Public Sector Pension Investment Board Has $8.69 Million Stock Position in Bank of Hawaii Corporation $BOH

Key Points

• The Public Sector Pension Investment Board increased its stake in Bank of Hawaii Corporation by 27.3%, acquiring an additional 27,017 shares to reach a total of 126,029 shares worth $8.69 million.
• Bank of Hawaii reported earnings of $1.06 EPS for the last quarter, exceeding the consensus estimate by $0.02, with revenues of $174.48 million, below analyst expectations.
• The bank declared a quarterly dividend of $0.70 per share, which will be paid on September 15th, reflecting an annual yield of 4.3%.

Public Sector Pension Investment Board increased its position in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 27.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 126,029 shares of the bank's stock after acquiring an additional 27,017 shares during the period. Public Sector Pension Investment Board owned approximately 0.32% of Bank of Hawaii worth $8,692,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BOH. LPL Financial LLC grew its position in Bank of Hawaii by 74.3% in the 4th quarter. LPL Financial LLC now owns 17,727 shares of the bank's stock valued at $1,263,000 after buying an additional 7,554 shares in the last quarter. Cerity Partners LLC grew its position in Bank of Hawaii by 9.6% in the 4th quarter. Cerity Partners LLC now owns 16,860 shares of the bank's stock valued at $1,188,000 after buying an additional 1,480 shares in the last quarter. Bank of Montreal Can grew its position in Bank of Hawaii by 5.9% in the 4th quarter. Bank of Montreal Can now owns 4,592 shares of the bank's stock valued at $327,000 after buying an additional 254 shares in the last quarter. Raymond James Financial Inc. bought a new position in Bank of Hawaii in the 4th quarter valued at about $900,000. Finally, Summit Investment Advisors Inc. grew its position in Bank of Hawaii by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,089 shares of the bank's stock valued at $291,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BOH shares. Stephens reduced their price objective on shares of Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. Barclays increased their price target on shares of Bank of Hawaii from $67.00 to $68.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $74.40.

Bank of Hawaii Stock Performance

BOH stock traded up $0.3610 during midday trading on Tuesday, hitting $65.2210. 33,933 shares of the company traded hands, compared to its average volume of 425,204. Bank of Hawaii Corporation has a twelve month low of $57.44 and a twelve month high of $82.70. 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 business has a 50 day simple moving average of $66.40 and a 200-day simple moving average of $67.62. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80.

Bank of Hawaii (NYSE:BOH - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The bank reported $1.06 EPS for the quarter, beating the consensus estimate of $1.04 by $0.02. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.The company had revenue of $174.48 million for the quarter, compared to the consensus estimate of $177.82 million. During the same quarter last year, the company posted $0.81 earnings per share. As a group, equities research analysts predict that Bank of Hawaii Corporation will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.70 dividend. The ex-dividend date is Friday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 4.3%. Bank of Hawaii's dividend payout ratio (DPR) is presently 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.