Raymond James Financial Services Advisors Inc. raised its stake in shares of Bank of Hawaii Co. (NYSE:BOH – Get Rating) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,205 shares of the bank’s stock after buying an additional 1,505 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Bank of Hawaii were worth $1,462,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Bank of Hawaii by 0.9% in the first quarter. Vanguard Group Inc. now owns 3,877,869 shares of the bank’s stock worth $325,431,000 after acquiring an additional 36,389 shares during the period. Victory Capital Management Inc. boosted its position in Bank of Hawaii by 39.8% in the second quarter. Victory Capital Management Inc. now owns 2,167,240 shares of the bank’s stock worth $161,242,000 after purchasing an additional 617,432 shares during the last quarter. State Street Corp grew its stake in shares of Bank of Hawaii by 10.9% during the 1st quarter. State Street Corp now owns 1,777,119 shares of the bank’s stock valued at $149,136,000 after purchasing an additional 174,889 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Bank of Hawaii by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 770,983 shares of the bank’s stock valued at $64,701,000 after purchasing an additional 55,707 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Bank of Hawaii by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 755,161 shares of the bank’s stock worth $56,184,000 after purchasing an additional 19,211 shares during the period. 74.29% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on BOH. Compass Point cut their target price on shares of Bank of Hawaii to $86.00 in a research report on Thursday, October 27th. DA Davidson cut their price objective on shares of Bank of Hawaii from $80.00 to $76.00 and set a “neutral” rating for the company in a research report on Tuesday, October 25th. Finally, StockNews.com cut Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Tuesday, December 6th.
Bank of Hawaii Stock Down 0.8 %
Bank of Hawaii (NYSE:BOH – Get Rating) last released its earnings results on Monday, October 24th. The bank reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.15). The firm had revenue of $172.32 million for the quarter, compared to the consensus estimate of $183.20 million. Bank of Hawaii had a return on equity of 18.37% and a net margin of 31.88%. During the same quarter in the previous year, the business posted $1.52 EPS. On average, equities research analysts forecast that Bank of Hawaii Co. will post 5.62 EPS for the current year.
Bank of Hawaii Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 14th. Investors of record on Wednesday, November 30th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.65%. The ex-dividend date was Tuesday, November 29th. Bank of Hawaii’s dividend payout ratio is currently 50.63%.
Insiders Place Their Bets
In other news, CEO Peter S. Ho sold 5,500 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $79.30, for a total value of $436,150.00. Following the transaction, the chief executive officer now directly owns 233,681 shares in the company, valued at $18,530,903.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.06% of the stock is currently owned by company insiders.
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, personal 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, and 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.
- Get a free copy of the StockNews.com research report on Bank of Hawaii (BOH)
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