Corient Private Wealth LP Takes $5.23 Million Position in Bank of Hawaii Corporation $BOH

Key Points

• Corient Private Wealth acquired 64,178 shares of Bank of Hawaii, valued at approximately $5.23 million, representing about 0.16% of the company. Institutional investors and hedge funds collectively own 82.18% of the stock.
• Bank of Hawaii reported quarterly EPS of $1.47, narrowly beating estimates, while revenue of $196.9 million fell short of expectations. The bank announced a quarterly dividend of $0.70, equivalent to a 3.7% annualized yield.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an $85 price target; the stock recently opened at $75.98.

Corient Private Wealth LP acquired a new stake in Bank of Hawaii Corporation (NYSE:BOH - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 64,178 shares of the bank's stock, valued at approximately $5,230,000. Corient Private Wealth LP owned about 0.16% of Bank of Hawaii at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Bank of Hawaii during the 2nd quarter worth approximately $470,538,000. Vanguard Group Inc. increased its position in Bank of Hawaii by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 4,565,434 shares of the bank's stock valued at $312,139,000 after acquiring an additional 26,821 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Bank of Hawaii by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,106,873 shares of the bank's stock valued at $82,182,000 after acquiring an additional 22,356 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Bank of Hawaii by 122.3% during the third quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank's stock valued at $66,464,000 after acquiring an additional 557,148 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Bank of Hawaii by 36.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 865,384 shares of the bank's stock worth $59,166,000 after purchasing an additional 229,806 shares during the period. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bank of Hawaii

In other Bank of Hawaii news, insider Marco A. Abbruzzese sold 2,441 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $81.59, for a total transaction of $199,161.19. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.97% of the stock is currently owned by insiders.

Bank of Hawaii Stock Down 1.7%

Bank of Hawaii stock opened at $75.98 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 0.70. Bank of Hawaii Corporation has a 52-week low of $59.36 and a 52-week high of $86.31. The firm has a 50 day moving average price of $80.75 and a two-hundred day moving average price of $78.26. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.88 and a beta of 0.71.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The bank reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.01. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. The company had revenue of $196.90 million for the quarter, compared to analyst estimates of $199.51 million. During the same period in the prior year, the firm posted $1.06 EPS. Equities analysts predict that Bank of Hawaii Corporation will post 5.91 EPS for the current year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.70 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.80 annualized dividend and a yield of 3.7%. Bank of Hawaii's payout ratio is presently 52.24%.

Analyst Ratings Changes

Several brokerages recently weighed in on BOH. Stephens cut shares of Bank of Hawaii from an "overweight" rating to an "equal weight" rating and set a $85.00 price objective on the stock. in a research note on Thursday, August 6th. Keefe, Bruyette & Woods lowered their target price on Bank of Hawaii from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of Hawaii in a report on Friday, July 24th. Benchmark reaffirmed a "hold" rating on shares of Bank of Hawaii in a report on Tuesday, July 28th. Finally, DA Davidson upped their price target on Bank of Hawaii from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of Hawaii presently has a consensus rating of "Hold" and a consensus target price of $85.00.

Bank of Hawaii Company Profile

Bank of Hawaii NYSE: BOH is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.

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