Bank of Hawaii Co. (NYSE:BOH) has been assigned an average rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $86.50.
BOH has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Jefferies Group reaffirmed a “hold” rating and issued a $85.00 target price on shares of Bank of Hawaii in a research note on Friday, September 15th. Morgan Stanley reaffirmed an “underweight” rating and issued a $77.00 target price (up from $75.00) on shares of Bank of Hawaii in a research note on Wednesday, October 4th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $90.50 target price on shares of Bank of Hawaii in a research note on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $88.00 target price on shares of Bank of Hawaii in a research note on Tuesday, October 24th.
Shares of Bank of Hawaii (NYSE:BOH) traded down $0.41 during trading on Thursday, hitting $84.45. 181,272 shares of the stock were exchanged, compared to its average volume of 155,432. Bank of Hawaii has a 52-week low of $74.72 and a 52-week high of $90.80. The stock has a market capitalization of $3,587.35, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 2.25 and a beta of 0.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.66 and a current ratio of 0.66.
Bank of Hawaii declared that its Board of Directors has approved a share repurchase plan on Monday, October 23rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Wednesday, November 29th. Bank of Hawaii’s dividend payout ratio is currently 47.82%.
In other Bank of Hawaii news, insider Donna A. Tanoue sold 4,050 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $76.15, for a total transaction of $308,407.50. Following the transaction, the insider now directly owns 9,969 shares in the company, valued at $759,139.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donna A. Tanoue sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $76.88, for a total transaction of $461,280.00. Following the transaction, the insider now owns 9,969 shares in the company, valued at $766,416.72. The disclosure for this sale can be found here. 2.16% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BOH. Vanguard Group Inc. boosted its holdings in Bank of Hawaii by 2.1% in the second quarter. Vanguard Group Inc. now owns 3,671,470 shares of the bank’s stock valued at $304,622,000 after acquiring an additional 75,570 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Bank of Hawaii by 2.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,582 shares of the bank’s stock valued at $103,249,000 after acquiring an additional 30,082 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in Bank of Hawaii by 6.6% in the third quarter. Macquarie Group Ltd. now owns 1,082,303 shares of the bank’s stock valued at $90,221,000 after acquiring an additional 66,628 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Bank of Hawaii by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,036,874 shares of the bank’s stock valued at $86,434,000 after acquiring an additional 6,490 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Bank of Hawaii by 28.9% in the third quarter. American Century Companies Inc. now owns 1,025,878 shares of the bank’s stock valued at $85,517,000 after acquiring an additional 229,779 shares in the last quarter. Institutional investors and hedge funds own 75.60% of the company’s stock.
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About Bank of Hawaii
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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