Marble Harbor Investment Counsel LLC Buys 14,075 Shares of Bank of Hawaii Corporation $BOH

Key Points

• Marble Harbor Investment Counsel increased its stake in Bank of Hawaii by 14.3% in the fourth quarter, adding 14,075 shares and bringing its total holding to 112,199 shares valued at about $7.67 million.
• Analysts remain mixed on BOH: the stock currently has a consensus Hold rating with an average price target of $85.40, after several firms raised targets while others downgraded their views.
• Bank of Hawaii reported quarterly earnings of $1.30 per share, slightly below expectations, and announced a quarterly dividend of $0.70 per share, implying a 3.7% annualized yield.

Marble Harbor Investment Counsel LLC raised its position in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,199 shares of the bank's stock after acquiring an additional 14,075 shares during the period. Marble Harbor Investment Counsel LLC owned approximately 0.28% of Bank of Hawaii worth $7,671,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in shares of Bank of Hawaii by 192.6% during the fourth quarter. Covestor Ltd now owns 2,279 shares of the bank's stock worth $156,000 after acquiring an additional 1,500 shares during the period. ProShare Advisors LLC boosted its position in shares of Bank of Hawaii by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 7,655 shares of the bank's stock valued at $523,000 after acquiring an additional 225 shares during the period. Allworth Financial LP boosted its position in shares of Bank of Hawaii by 5.9% in the fourth quarter. Allworth Financial LP now owns 5,679 shares of the bank's stock valued at $388,000 after acquiring an additional 317 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Bank of Hawaii by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,148 shares of the bank's stock valued at $625,000 after acquiring an additional 200 shares during the period. Finally, Crestwood Advisors Group LLC boosted its position in shares of Bank of Hawaii by 39.9% in the fourth quarter. Crestwood Advisors Group LLC now owns 5,346 shares of the bank's stock valued at $366,000 after acquiring an additional 1,526 shares during the period. Institutional investors own 82.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BOH shares. Barclays boosted their target price on shares of Bank of Hawaii from $83.00 to $86.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 7th. DA Davidson boosted their price target on Bank of Hawaii from $77.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, April 21st. Wall Street Zen cut Bank of Hawaii from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Stephens boosted their price target on Bank of Hawaii from $82.00 to $86.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Finally, Zacks Research cut Bank of Hawaii from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $85.40.

Bank of Hawaii Stock Down 0.7%

NYSE BOH opened at $76.37 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.69 and a quick ratio of 0.69. Bank of Hawaii Corporation has a fifty-two week low of $59.36 and a fifty-two week high of $82.74. The stock has a market capitalization of $3.03 billion, a PE ratio of 15.43, a PEG ratio of 0.81 and a beta of 0.73. The business has a fifty day moving average price of $76.26 and a two-hundred day moving average price of $72.88.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings data on Monday, April 20th. The bank reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). The business had revenue of $192.32 million during 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 period last year, the business earned $0.97 earnings per share. Equities analysts expect that Bank of Hawaii Corporation will post 5.91 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.7%. Bank of Hawaii's dividend payout ratio is 56.57%.

About Bank of Hawaii

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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