Vancity Investment Management Ltd Invests $362,000 in Bank of Hawaii Corporation $BOH

Key Points

• Vancity Investment Management Ltd acquired a new stake in Bank of Hawaii Corporation, purchasing 5,251 shares valued at approximately $362,000 during the first quarter.
• Multiple institutional investors have increased their holdings in Bank of Hawaii, with Wealth Alliance LLC raising its position by 5% and Golden State Wealth Management LLC boosting its stake by over 110%.
• Bank of Hawaii announced a quarterly dividend of $0.70 to be paid on September 15th, resulting in an annualized dividend yield of 4.1%.

Vancity Investment Management Ltd bought a new position in Bank of Hawaii Corporation (NYSE:BOH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,251 shares of the bank's stock, valued at approximately $362,000.

A number of other hedge funds also recently bought and sold shares of BOH. Millennium Management LLC boosted its stake in Bank of Hawaii by 4,090.7% during the 1st quarter. Millennium Management LLC now owns 302,315 shares of the bank's stock valued at $20,851,000 after purchasing an additional 295,101 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Bank of Hawaii by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank's stock worth $1,605,000 after acquiring an additional 1,027 shares during the period. AQR Capital Management LLC raised its stake in Bank of Hawaii by 177.5% during the 1st quarter. AQR Capital Management LLC now owns 23,818 shares of the bank's stock valued at $1,617,000 after purchasing an additional 15,234 shares during the last quarter. 140 Summer Partners LP acquired a new position in Bank of Hawaii during the 1st quarter valued at $41,633,000. Finally, Royal Bank of Canada boosted its holdings in Bank of Hawaii by 16.4% in the 1st quarter. Royal Bank of Canada now owns 26,241 shares of the bank's stock valued at $1,808,000 after purchasing an additional 3,689 shares during the period. 82.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Bank of Hawaii Price Performance

Shares of Bank of Hawaii stock traded down $0.12 during midday trading on Wednesday, hitting $68.00. 417,445 shares of the company were exchanged, compared to its average volume of 325,743. The firm has a 50 day simple moving average of $66.66 and a 200-day simple moving average of $67.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $2.70 billion, a P/E ratio of 17.85, a PEG ratio of 0.88 and a beta of 0.84. Bank of Hawaii Corporation has a 52 week low of $57.44 and a 52 week high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The bank reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.02. The firm had revenue of $174.48 million during the quarter, compared to analyst estimates 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 prior year, the company posted $0.81 earnings per share. Research analysts forecast that Bank of Hawaii Corporation will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.1%. Bank of Hawaii's dividend payout ratio (DPR) is 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.