Bokf Na boosted its stake in Bank of Hawaii Co. (NYSE:BOH) by 34.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,105 shares of the bank’s stock after purchasing an additional 2,838 shares during the quarter. Bokf Na’s holdings in Bank of Hawaii were worth $748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in Bank of Hawaii by 3.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,784 shares of the bank’s stock valued at $322,000 after purchasing an additional 144 shares in the last quarter. ETF Managers Group LLC raised its stake in shares of Bank of Hawaii by 18.2% during the fourth quarter. ETF Managers Group LLC now owns 1,602 shares of the bank’s stock worth $108,000 after acquiring an additional 247 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Bank of Hawaii by 26.5% during the fourth quarter. Parallel Advisors LLC now owns 1,206 shares of the bank’s stock worth $81,000 after acquiring an additional 253 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Bank of Hawaii by 12.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,034 shares of the bank’s stock worth $204,000 after acquiring an additional 325 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. raised its stake in shares of Bank of Hawaii by 2.3% during the fourth quarter. Bbva Compass Bancshares Inc. now owns 14,885 shares of the bank’s stock worth $1,002,000 after acquiring an additional 337 shares in the last quarter. 74.86% of the stock is currently owned by institutional investors and hedge funds.
BOH stock opened at $80.66 on Wednesday. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 1.97 and a beta of 0.88. Bank of Hawaii Co. has a one year low of $63.64 and a one year high of $88.92. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11.
Bank of Hawaii declared that its Board of Directors has approved a stock repurchase program on Monday, January 28th that permits the company to repurchase $130.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 28th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Wednesday, February 27th. Bank of Hawaii’s dividend payout ratio (DPR) is presently 47.42%.
In related news, Vice Chairman Sharon M. Crofts sold 5,833 shares of Bank of Hawaii stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $79.62, for a total value of $464,423.46. Following the transaction, the insider now directly owns 48,778 shares of the company’s stock, valued at $3,883,704.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.04% of the company’s stock.
Several research firms have commented on BOH. Zacks Investment Research raised shares of Bank of Hawaii from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Tuesday, March 12th. ValuEngine raised shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Morgan Stanley decreased their price target on shares of Bank of Hawaii from $84.00 to $80.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 11th. Finally, Barclays reissued a “hold” rating and set a $85.00 price target on shares of Bank of Hawaii in a research note on Friday, January 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $86.50.
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About Bank of Hawaii
Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides financial products and services in Hawaii, Guam, and other Pacific Islands. It operates through four segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other.
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