Bank of Hawaii Corporation $BOH Shares Purchased by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC has increased its stake in Bank of Hawaii Corporation by 23.7%, acquiring an additional 418,055 shares, bringing their total ownership to approximately 5.49% valued at $150,406,000.
• Bank of Hawaii recently declared a quarterly dividend of $0.70 per share, which represents a 4.1% dividend yield based on an annualized payout of $2.80.
• Bank of Hawaii reported $1.06 EPS for the last quarter, surpassing the consensus estimate of $1.04, although revenue was lower than expected at $174.48 million.

Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,180,744 shares of the bank's stock after acquiring an additional 418,055 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 5.49% of Bank of Hawaii worth $150,406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mariner LLC increased its holdings in Bank of Hawaii by 1.7% in the 4th quarter. Mariner LLC now owns 9,076 shares of the bank's stock worth $647,000 after acquiring an additional 154 shares in the last quarter. Wealth Alliance LLC grew its holdings in shares of Bank of Hawaii by 5.0% during the first quarter. Wealth Alliance LLC now owns 3,270 shares of the bank's stock worth $226,000 after buying an additional 155 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Bank of Hawaii by 3.7% during the fourth quarter. Cetera Investment Advisers now owns 4,457 shares of the bank's stock worth $318,000 after buying an additional 158 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Bank of Hawaii by 80.2% during the first quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock worth $27,000 after buying an additional 174 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in shares of Bank of Hawaii by 110.5% during the first quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock worth $40,000 after buying an additional 305 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BOH has been the subject of a number of research reports. Stephens dropped their target price on shares of Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Tuesday, July 29th. Piper Sandler began coverage on shares of Bank of Hawaii in a research report on Thursday, August 21st. They issued a "neutral" rating and a $71.00 target price on the stock. Finally, Barclays upped their target price on shares of Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bank of Hawaii has an average rating of "Hold" and an average price target of $75.00.

Bank of Hawaii Stock Up 1.1%

Shares of BOH stock traded up $0.73 during trading hours on Friday, reaching $68.55. 79,591 shares of the stock were exchanged, compared to its average volume of 422,754. The business's fifty day moving average is $66.64 and its two-hundred day moving average is $67.31. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.70. Bank of Hawaii Corporation has a 12-month low of $57.44 and a 12-month high of $82.70. The firm has a market capitalization of $2.73 billion, a P/E ratio of 17.99, a P/E/G ratio of 0.89 and a beta of 0.80.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its earnings results on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.02. The firm had revenue of $174.48 million for the quarter, compared to analyst estimates of $177.82 million. Bank of Hawaii had a net margin of 16.30% and a return on equity of 12.67%. During the same period in the prior year, the firm earned $0.81 earnings per share. As a group, research analysts expect that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, August 29th. Bank of Hawaii's dividend payout ratio is currently 73.49%.

Bank of Hawaii Profile

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, overdraft lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, as well as high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.