Envestnet Asset Management Inc. raised its position in Bank of Hawaii Co. (NYSE: BOH – Get a rating) by 5.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor held 117,627 shares of the bank after purchasing an additional 5,956 shares during the period. Envestnet Asset Management Inc. held approximately 0.29% of Bank of Hawaii worth $9,871,000 when it last filed with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently changed their BOH holdings. Covestor Ltd bought a new position in Bank of Hawaii during the fourth quarter worth $34,000. CWM LLC bought a new position in Bank of Hawaii during the fourth quarter worth $37,000. Steward Partners Investment Advisory LLC increased its stake in Bank of Hawaii by 110.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 476 shares of the bank valued at $40,000 after acquiring 250 additional shares last quarter. During the fourth quarter, Point72 Hong Kong Ltd purchased a new position in Bank of Hawaii worth $46,000. Finally, GHP Investment Advisors Inc. bought a new position in Bank of Hawaii during the first quarter at a value of $89,000. 71.07% of the shares are held by hedge funds and other institutional investors.
Analyst upgrades and downgrades
BOH has been the subject of several research analyst reports. StockNews.com upgraded Bank of Hawaii shares from a “sell” to a “hold” rating in a Monday, Aug. 1 research note. Jefferies Financial Group lowered its price target on Bank of Hawaii shares from $87.00 to $79.00 in a Monday, July 11 research report.
Insider trading at the Bank of Hawaii
In other news, CEO Peter S. Ho sold 5,500 shares of the company in a transaction dated Tuesday, May 10. The shares were sold at an average price of $74.51, for a total value of $409,805.00. Following the completion of the sale, the CEO now owns 244,681 shares of the company, valued at approximately $18,231,181.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Insiders of the company own 2.06% of the shares of the company.
Bank of Hawaii Price Performance
BOH Stock opened at $80.52 on Monday. Bank of Hawaii Co. has a 52-week low of $70.89 and a 52-week high of $92.38. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt ratio of 0.01. The company has a fifty-day simple moving average of $76.39 and a two-hundred-day simple moving average of $80.04. The company has a market capitalization of $3.24 billion, a P/E ratio of 13.95, a price-to-earnings growth ratio of 1.79 and a beta of 1.12.
Bank of Hawaii (NYSE: BOH – Get a rating) last released its results on Monday, July 25. The bank reported earnings per share (EPS) of $1.38 for the quarter, beating the consensus estimate of $1.35 by $0.03. Bank of Hawaii had a net margin of 33.63% and a return on equity of 17.98%. During the same period last year, the company posted earnings per share of $1.68. Analysts expect Bank of Hawaii Co. to post earnings per share of 5.64 for the current fiscal year.
Bank of Hawaii announces dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Shareholders of record on Wednesday, August 31 will receive a dividend of $0.70. The ex-date of this dividend is Tuesday, August 30. This represents an annualized dividend of $2.80 and a dividend yield of 3.48%. Bank of Hawaii’s dividend payout ratio (DPR) is currently 48.53%.
Bank of Hawaii Corporate Profile
Bank of Hawaii Corporation operates as a bank holding company for Bank of Hawaii which 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 Others. The Consumer Banking segment offers checking, savings and term deposit accounts; residential mortgages, home equity lines of credit, auto loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards; banking, investment, credit and trust services to private and international clients to individuals and families, and high net worth individuals; investment management; institutional investment advisory services to corporations, government entities and foundations; and brokerage offerings, including stocks, mutual funds, life insurance and annuity products.
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