Hsbc Holdings PLC Takes Position in Bank of Hawaii Corporation $BOH

Key Points

• HSBC Holdings PLC opened a new position in Bank of Hawaii, buying 90,102 shares worth about $6.16 million in the fourth quarter, according to its latest 13F filing.
• Bank of Hawaii reported Q1 EPS of $1.30, missing analyst expectations of $1.33, while revenue also came in slightly below estimates at $192.32 million.
• The stock traded down about 2% and analysts currently have a Hold consensus rating, with an average price target of $85.80.

Hsbc Holdings PLC purchased a new position in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 90,102 shares of the bank's stock, valued at approximately $6,164,000. Hsbc Holdings PLC owned about 0.23% of Bank of Hawaii as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Balyasny Asset Management L.P. grew its position in Bank of Hawaii by 122.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank's stock worth $66,464,000 after purchasing an additional 557,148 shares during the last quarter. Nuveen LLC raised its holdings in shares of Bank of Hawaii by 455.6% during the fourth quarter. Nuveen LLC now owns 491,187 shares of the bank's stock valued at $33,582,000 after buying an additional 402,774 shares during the last quarter. Verition Fund Management LLC raised its holdings in shares of Bank of Hawaii by 1,699.7% during the third quarter. Verition Fund Management LLC now owns 265,834 shares of the bank's stock valued at $17,449,000 after buying an additional 251,063 shares during the last quarter. Goldman Sachs Group Inc. boosted its position 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 buying an additional 229,806 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of Bank of Hawaii by 163.9% during the third quarter. Two Sigma Investments LP now owns 339,827 shares of the bank's stock worth $22,306,000 after buying an additional 211,076 shares during the period. Institutional investors and hedge funds own 82.18% of the company's stock.

Bank of Hawaii Trading Down 2.0%

Bank of Hawaii stock opened at $81.07 on Thursday. The firm has a 50 day simple moving average of $78.79 and a 200-day simple moving average of $76.09. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $3.21 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 0.87 and a beta of 0.70. Bank of Hawaii Corporation has a 12-month low of $59.36 and a 12-month high of $83.81.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.33 by ($0.03). The company had revenue of $192.32 million for the quarter, compared to analyst estimates of $193.53 million. Bank of Hawaii had a net margin of 20.46% and a return on equity of 14.97%. During the same quarter in the prior year, the business earned $0.97 EPS. As a group, equities research analysts expect that Bank of Hawaii Corporation will post 5.89 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a dividend of $0.70 per share. The ex-dividend date was Friday, May 29th. This represents a $2.80 annualized dividend and a dividend yield of 3.5%. Bank of Hawaii's dividend payout ratio (DPR) is 56.57%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. DA Davidson raised their target price on Bank of Hawaii from $77.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded Bank of Hawaii from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, April 29th. Piper Sandler decreased their price target on Bank of Hawaii from $84.00 to $78.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. Wall Street Zen cut Bank of Hawaii from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Finally, Benchmark assumed coverage on Bank of Hawaii in a report on Wednesday. They set a "hold" rating on the stock. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $85.80.

Bank of Hawaii 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.