Wedge Capital Management L L P NC lowered its holdings in shares of Bank of Hawaii Corporation (NYSE:BOH) by 10.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,042 shares of the bank’s stock after selling 834 shares during the period. Wedge Capital Management L L P NC’s holdings in Bank of Hawaii Corporation were worth $587,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of BOH. Crestwood Advisors Group LLC boosted its stake in Bank of Hawaii Corporation by 0.6% during the 2nd quarter. Crestwood Advisors Group LLC now owns 2,483 shares of the bank’s stock worth $206,000 after purchasing an additional 14 shares during the period. World Asset Management Inc boosted its stake in Bank of Hawaii Corporation by 1.4% during the 2nd quarter. World Asset Management Inc now owns 2,660 shares of the bank’s stock worth $221,000 after purchasing an additional 36 shares during the period. Eagle Ridge Investment Management acquired a new stake in Bank of Hawaii Corporation during the 3rd quarter worth $244,000. Shelton Capital Management acquired a new stake in Bank of Hawaii Corporation during the 2nd quarter worth $269,000. Finally, LS Investment Advisors LLC boosted its stake in Bank of Hawaii Corporation by 17.0% during the 2nd quarter. LS Investment Advisors LLC now owns 3,357 shares of the bank’s stock worth $279,000 after purchasing an additional 488 shares during the period. Hedge funds and other institutional investors own 76.22% of the company’s stock.
Bank of Hawaii Corporation (NYSE:BOH) opened at $78.86 on Friday. The company has a market cap of $3,341.37, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 2.09 and a beta of 0.96. 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 Corporation has a 12-month low of $74.72 and a 12-month high of $90.80.
Bank of Hawaii Corporation (NYSE:BOH) last announced its quarterly earnings data on Monday, October 23rd. The bank reported $1.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.08. The company had revenue of $158.73 million during the quarter, compared to the consensus estimate of $163.29 million. Bank of Hawaii Corporation had a net margin of 27.27% and a return on equity of 15.45%. During the same quarter in the prior year, the firm earned $1.02 EPS. sell-side analysts expect that Bank of Hawaii Corporation will post 4.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, November 29th. This represents a $2.08 dividend on an annualized basis and a yield of 2.64%. Bank of Hawaii Corporation’s payout ratio is currently 47.82%.
Bank of Hawaii Corporation declared that its Board of Directors has initiated a share buyback plan on Monday, October 23rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Bank of Hawaii Corporation news, insider Donna A. Tanoue sold 6,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 9,969 shares in the company, valued at approximately $766,416.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Donna A. Tanoue sold 1,185 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $76.86, for a total transaction of $91,079.10. Following the transaction, the insider now owns 15,204 shares of the company’s stock, valued at approximately $1,168,579.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,235 shares of company stock valued at $860,767. 2.16% of the stock is owned by insiders.
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BOH has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Bank of Hawaii Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Monday, October 9th. Barclays PLC increased their price target on shares of Bank of Hawaii Corporation from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 25th. Piper Jaffray Companies reiterated a “hold” rating and set a $94.00 price target on shares of Bank of Hawaii Corporation in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $88.00 price target on shares of Bank of Hawaii Corporation in a research note on Tuesday, October 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $92.00 price target on shares of Bank of Hawaii Corporation in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Bank of Hawaii Corporation currently has a consensus rating of “Hold” and a consensus price target of $87.92.
About Bank of Hawaii Corporation
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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