Vanguard Group Inc. Lowers Stock Holdings in Bank of Hawaii Corporation $BOH

Vanguard Group Inc. reduced its stake in Bank of Hawaii Corporation (NYSE:BOH) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,544,436 shares of the bank’s stock after selling 73,770 shares during the quarter. Vanguard Group Inc. owned 11.44% of Bank of Hawaii worth $313,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BOH. Bank of Montreal Can grew its stake in shares of Bank of Hawaii by 5.9% in the 4th 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 last quarter. Raymond James Financial Inc. acquired a new stake in shares of Bank of Hawaii in the 4th quarter valued at approximately $900,000. Summit Investment Advisors Inc. lifted its holdings in shares of Bank of Hawaii by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,089 shares of the bank’s stock valued at $291,000 after buying an additional 260 shares during the period. Barclays PLC lifted its holdings in shares of Bank of Hawaii by 49.6% in the 4th quarter. Barclays PLC now owns 139,857 shares of the bank’s stock valued at $9,964,000 after buying an additional 46,353 shares during the period. Finally, Mariner LLC lifted its holdings in shares of Bank of Hawaii by 1.7% in the 4th quarter. Mariner LLC now owns 9,076 shares of the bank’s stock valued at $647,000 after buying an additional 154 shares during the period. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Hawaii Stock Down 2.2%

BOH opened at $65.38 on Monday. The business’s fifty day moving average is $66.46 and its two-hundred day moving average is $67.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.85 and a beta of 0.80. Bank of Hawaii Corporation has a one year low of $57.44 and a one year high of $82.70.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, July 28th. The bank reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. The company had revenue of $174.48 million for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.81 earnings per share. Analysts anticipate that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 yield of 4.3%. The ex-dividend date is Friday, August 29th. Bank of Hawaii’s payout ratio is presently 73.49%.

Analyst Ratings Changes

BOH has been the subject of several recent analyst reports. Barclays raised 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. Stephens reduced their price target on Bank of Hawaii from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Tuesday, July 29th. Two research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $74.40.

About Bank of Hawaii

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.