Y Intercept Hong Kong Ltd Buys New Stake in Bank of Hawaii Corporation (NYSE:BOH)

Key Points

• Y Intercept Hong Kong Ltd has made a new investment in Bank of Hawaii Corporation, acquiring 5,551 shares valued at approximately $383,000 in the first quarter.
• Bank of Hawaii plans to pay a quarterly dividend of $0.70 per share on September 15th, representing an annualized yield of 4.44% and a payout ratio of 78.65%.
• Wall Street analysts rate Bank of Hawaii with a consensus of "Hold" and have set an average price target of $77.20, with two sell ratings, two hold ratings, and one buy rating.

Y Intercept Hong Kong Ltd bought a new position in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,551 shares of the bank's stock, valued at approximately $383,000.

Several other hedge funds have also made changes to their positions in the business. Mariner LLC boosted its stake in shares of Bank of Hawaii by 1.7% during the fourth quarter. Mariner LLC now owns 9,076 shares of the bank's stock worth $647,000 after buying an additional 154 shares during the period. Wealth Alliance LLC boosted its stake in shares of Bank of Hawaii by 5.0% during the first quarter. Wealth Alliance LLC now owns 3,270 shares of the bank's stock worth $226,000 after buying an additional 155 shares during the period. Cetera Investment Advisers lifted its position in Bank of Hawaii by 3.7% in the fourth quarter. Cetera Investment Advisers now owns 4,457 shares of the bank's stock valued at $318,000 after purchasing an additional 158 shares during the period. Versant Capital Management Inc lifted its position in Bank of Hawaii by 80.2% in the first quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock valued at $27,000 after purchasing an additional 174 shares during the period. Finally, Bank of Montreal Can lifted its position in Bank of Hawaii by 5.9% in the fourth quarter. Bank of Montreal Can now owns 4,592 shares of the bank's stock valued at $327,000 after purchasing an additional 254 shares during the period. Institutional investors and hedge funds own 82.18% of the company's stock.

Bank of Hawaii Price Performance

Shares of BOH stock traded down $0.48 during midday trading on Friday, reaching $61.40. 206,682 shares of the company traded hands, compared to its average volume of 428,595. The firm's 50 day simple moving average is $67.06 and its two-hundred day simple moving average is $68.37. Bank of Hawaii Corporation has a 1-year low of $57.44 and a 1-year high of $82.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.71. The firm has a market cap of $2.44 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.00 and a beta of 0.77.

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

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, August 29th. Bank of Hawaii's dividend payout ratio (DPR) is presently 73.49%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. 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. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $74.40.

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.