Bleakley Financial Group LLC Buys New Holdings in Bank of Hawaii Corporation $BOH

Bleakley Financial Group LLC purchased a new position in Bank of Hawaii Corporation (NYSE:BOH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,419 shares of the bank’s stock, valued at approximately $684,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Bank of Hawaii in the second quarter worth approximately $30,569,000. Basswood Capital Management L.L.C. boosted its position in Bank of Hawaii by 32.7% during the 2nd quarter. Basswood Capital Management L.L.C. now owns 339,540 shares of the bank’s stock valued at $22,929,000 after buying an additional 83,621 shares during the period. Bank of America Corp DE grew its holdings in Bank of Hawaii by 33.0% in the 2nd quarter. Bank of America Corp DE now owns 279,454 shares of the bank’s stock worth $18,872,000 after acquiring an additional 69,267 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Bank of Hawaii by 27.3% in the second quarter. Squarepoint Ops LLC now owns 202,350 shares of the bank’s stock valued at $13,665,000 after acquiring an additional 43,386 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Bank of Hawaii by 16.2% during the second quarter. Invesco Ltd. now owns 175,803 shares of the bank’s stock valued at $11,872,000 after acquiring an additional 24,529 shares during the last quarter. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Insider Activity

In other news, CEO Peter S. Ho sold 15,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $67.87, for a total transaction of $1,018,050.00. Following the sale, the chief executive officer owned 156,774 shares in the company, valued at $10,640,251.38. This represents a 8.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.07% of the company’s stock.

Bank of Hawaii Stock Performance

Bank of Hawaii stock opened at $78.08 on Thursday. Bank of Hawaii Corporation has a twelve month low of $57.44 and a twelve month high of $80.61. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $3.11 billion, a P/E ratio of 16.90, a PEG ratio of 0.78 and a beta of 0.75. The stock’s 50 day moving average is $73.51 and its 200 day moving average is $68.56.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, January 26th. The bank reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.14. The firm had revenue of $189.65 million for the quarter, compared to analysts’ expectations of $184.83 million. Bank of Hawaii had a return on equity of 14.42% and a net margin of 19.30%.During the same period in the prior year, the firm posted $0.85 earnings per share. On average, equities research analysts predict that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.80 annualized dividend and a yield of 3.6%. Bank of Hawaii’s payout ratio is 60.61%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BOH shares. Zacks Research raised Bank of Hawaii from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. DA Davidson boosted their target price on Bank of Hawaii from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, January 27th. Barclays upped their target price on Bank of Hawaii from $75.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, January 27th. Wall Street Zen upgraded shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bank of Hawaii in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.80.

Bank of Hawaii Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.