The Manufacturers Life Insurance Company Makes New Investment in Bank of Hawaii Corporation $BOH

The Manufacturers Life Insurance Company bought a new position in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,321 shares of the bank's stock, valued at approximately $1,493,000.

A number of other institutional investors have also recently modified their holdings of the business. DF Dent & Co. Inc. increased its stake in shares of Bank of Hawaii by 4.8% in the 3rd quarter. DF Dent & Co. Inc. now owns 3,433 shares of the bank's stock valued at $225,000 after purchasing an additional 157 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Bank of Hawaii by 11.8% during the fourth quarter. Hantz Financial Services Inc. now owns 1,520 shares of the bank's stock worth $104,000 after purchasing an additional 160 shares in the last quarter. CoreFirst Bank & Trust grew its holdings in Bank of Hawaii by 14.6% in the first quarter. CoreFirst Bank & Trust now owns 1,410 shares of the bank's stock valued at $105,000 after purchasing an additional 180 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Bank of Hawaii by 23.1% in the first quarter. EverSource Wealth Advisors LLC now owns 985 shares of the bank's stock valued at $73,000 after purchasing an additional 185 shares during the period. Finally, Rothschild Investment LLC increased its position in shares of Bank of Hawaii by 6.2% in the fourth quarter. Rothschild Investment LLC now owns 3,213 shares of the bank's stock valued at $220,000 after buying an additional 188 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BOH shares. Stephens downgraded 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. Benchmark reissued a "hold" rating on shares of Bank of Hawaii in a report on Tuesday, July 28th. Barclays reduced 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of Hawaii in a research report on Friday, July 24th. Finally, DA Davidson boosted their target price on shares of Bank of Hawaii from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $85.00.

Bank of Hawaii Stock Performance

NYSE BOH opened at $76.67 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.70. The stock's 50 day simple moving average is $80.43 and its 200-day simple moving average is $78.23. The company has a market cap of $3.02 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.87 and a beta of 0.70. Bank of Hawaii Corporation has a 1-year low of $59.36 and a 1-year high of $86.31.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The bank reported $1.47 EPS for the quarter, topping the consensus estimate of $1.46 by $0.01. The firm had revenue of $196.90 million during the quarter, compared to analysts' expectations 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 period in the previous year, the business earned $1.06 earnings per share. As a group, equities research analysts anticipate that Bank of Hawaii Corporation will post 5.91 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm 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 dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, August 31st. 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 presently 52.24%.

Insider Activity at Bank of Hawaii

In other news, insider Marco Abbruzzese sold 2,441 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $81.59, for a total value of $199,161.19. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.97% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source