Teacher Retirement System of Texas Purchases Shares of 6,653 Bank of Hawaii Corporation (NYSE:BOH)

Teacher Retirement System of Texas acquired a new position in Bank of Hawaii Corporation (NYSE:BOH) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,653 shares of the bank’s stock, valued at approximately $459,000.

Other hedge funds have also recently made changes to their positions in the company. Balyasny Asset Management L.P. purchased a new position in Bank of Hawaii in the 4th quarter worth $54,309,000. Ameriprise Financial Inc. boosted its position in Bank of Hawaii by 558.1% during the fourth quarter. Ameriprise Financial Inc. now owns 646,890 shares of the bank’s stock valued at $46,084,000 after buying an additional 548,599 shares during the period. Norges Bank bought a new position in shares of Bank of Hawaii during the fourth quarter valued at about $27,495,000. Freestone Grove Partners LP purchased a new position in shares of Bank of Hawaii in the fourth quarter worth about $13,678,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Bank of Hawaii by 188.8% in the 4th quarter. JPMorgan Chase & Co. now owns 250,094 shares of the bank’s stock valued at $17,817,000 after acquiring an additional 163,503 shares during the last quarter. 82.18% of the stock is currently owned by institutional investors.

Insider Activity at Bank of Hawaii

In related news, insider Taryn L. Salmon sold 1,652 shares of Bank of Hawaii stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $66.15, for a total value of $109,279.80. Following the sale, the insider owned 6,442 shares in the company, valued at $426,138.30. The trade was a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.07% of the stock is currently owned by corporate insiders.

Bank of Hawaii Price Performance

Shares of Bank of Hawaii stock opened at $67.07 on Thursday. The company’s fifty day simple moving average is $67.90 and its two-hundred day simple moving average is $68.73. Bank of Hawaii Corporation has a 12-month low of $57.45 and a 12-month high of $82.70. The firm has a market cap of $2.67 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.08 and a beta of 0.77. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.41.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $169.87 million for the quarter, compared to analysts’ expectations of $168.65 million. Bank of Hawaii had a return on equity of 12.16% and a net margin of 15.12%. During the same period last year, the firm earned $0.87 earnings per share. As a group, equities analysts expect that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.17%. Bank of Hawaii’s dividend payout ratio is presently 78.65%.

Wall Street Analyst Weigh In

Separately, Barclays raised their price target on Bank of Hawaii from $67.00 to $68.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $77.20.

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.