Bank of Hawaii Corporation $BOH Shares Bought 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 first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,180,744 shares of the bank's stock after buying an additional 418,055 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 5.49% of Bank of Hawaii worth $150,406,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of Bank of Hawaii by 847.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,880 shares of the bank's stock valued at $337,000 after acquiring an additional 4,365 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Bank of Hawaii by 9.2% during the first quarter. Ameriprise Financial Inc. now owns 706,105 shares of the bank's stock worth $48,700,000 after purchasing an additional 59,215 shares during the period. Vestmark Advisory Solutions Inc. boosted its holdings in Bank of Hawaii by 23.3% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 9,610 shares of the bank's stock valued at $663,000 after purchasing an additional 1,813 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Bank of Hawaii by 10.7% in the 1st quarter. HighTower Advisors LLC now owns 27,695 shares of the bank's stock valued at $1,910,000 after purchasing an additional 2,671 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in Bank of Hawaii by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 126,029 shares of the bank's stock valued at $8,692,000 after purchasing an additional 27,017 shares during the last quarter. Hedge funds and other institutional investors own 82.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Barclays boosted their target price on shares of Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Piper Sandler assumed coverage on shares of Bank of Hawaii in a report on Thursday, August 21st. They issued a "neutral" rating and a $71.00 target price on the stock. Finally, Stephens decreased their target price on shares of Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. One research 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 data from MarketBeat.com, Bank of Hawaii has a consensus rating of "Hold" and a consensus price target of $75.00.

Bank of Hawaii Trading Up 0.5%

NYSE BOH traded up $0.32 on Wednesday, reaching $68.84. The stock had a trading volume of 246,621 shares, compared to its average volume of 412,600. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $66.57 and a two-hundred day moving average price of $67.35. 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 $2.74 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 0.88 and a beta of 0.80.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.02. The business had revenue of $174.48 million during the quarter, compared to analysts' expectations of $177.82 million. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.During the same period in the previous year, the firm posted $0.81 earnings per share. As a group, sell-side analysts forecast that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

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

About Bank of Hawaii

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.