Jupiter Topco LLC Invests $1.43 Million in Bank of Hawaii Corporation $BOH

Key Points

• Jupiter Topco LLC acquired 17,501 shares of Bank of Hawaii worth approximately $1.43 million, while institutional investors collectively own 82.18% of the stock.
• Analysts maintain a cautious outlook: Bank of Hawaii has a consensus “Hold” rating and an $85 price target, with Barclays and Stephens assigning equal-weight ratings.
• Bank of Hawaii reported quarterly EPS of $1.47, slightly above estimates, and declared a $0.70 quarterly dividend, representing a 3.6% yield and $2.80 annualized payout.

Jupiter Topco LLC purchased a new stake in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 17,501 shares of the bank's stock, valued at approximately $1,427,000.

A number of other large investors also recently modified their holdings of BOH. BlackRock Inc. bought a new position in Bank of Hawaii in the second quarter valued at about $470,538,000. Vanguard Group Inc. grew its stake in shares of Bank of Hawaii by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 4,565,434 shares of the bank's stock worth $312,139,000 after purchasing an additional 26,821 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Bank of Hawaii by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,106,873 shares of the bank's stock valued at $82,182,000 after purchasing an additional 22,356 shares during the period. Balyasny Asset Management L.P. raised its position in Bank of Hawaii by 122.3% during 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. Finally, Goldman Sachs Group Inc. raised 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 acquiring an additional 229,806 shares during the last quarter. 82.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bank of Hawaii

In related news, insider Marco Abbruzzese sold 2,441 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $81.59, for a total transaction of $199,161.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BOH shares. Benchmark reissued a "hold" rating on shares of Bank of Hawaii in a research report on Tuesday, July 28th. Barclays decreased their price objective on shares of Bank of Hawaii from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 28th. Stephens downgraded shares of Bank of Hawaii from an "overweight" rating to an "equal weight" rating and set a $85.00 target price for the company. in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of Hawaii in a research report on Friday, July 24th. Finally, DA Davidson increased their price target on Bank of Hawaii from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of Hawaii currently has a consensus rating of "Hold" and a consensus price target of $85.00.

Bank of Hawaii Trading Up 0.6%

NYSE BOH opened at $77.10 on Friday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 0.87 and a beta of 0.70. Bank of Hawaii Corporation has a 52 week low of $59.36 and a 52 week high of $86.31. The business has a 50 day moving average price of $80.33 and a 200-day moving average price of $78.22. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.33.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.01. The business had revenue of $196.90 million during the quarter, compared to the consensus estimate of $199.51 million. Bank of Hawaii had a return on equity of 15.72% and a net margin of 21.84%.During the same quarter in the previous year, the business earned $1.06 EPS. As a group, equities analysts expect that Bank of Hawaii Corporation will post 5.91 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders 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 dividend yield of 3.6%. Bank of Hawaii's dividend payout ratio is currently 52.24%.

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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