Cubist Systematic Strategies LLC purchased a new stake in shares of Bank of Hawaii Co. (NYSE:BOH) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,980 shares of the bank’s stock, valued at approximately $665,000.
Several other hedge funds have also recently added to or reduced their stakes in BOH. Quantbot Technologies LP purchased a new stake in shares of Bank of Hawaii during the 3rd quarter valued at approximately $117,000. Rocky Mountain Advisers LLC raised its position in shares of Bank of Hawaii by 13,300.0% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,010 shares of the bank’s stock valued at $168,000 after buying an additional 1,995 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Bank of Hawaii during the 3rd quarter valued at approximately $203,000. Trexquant Investment LP purchased a new stake in shares of Bank of Hawaii during the 3rd quarter valued at approximately $240,000. Finally, Eagle Ridge Investment Management purchased a new stake in shares of Bank of Hawaii during the 3rd quarter valued at approximately $244,000. 75.66% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on BOH. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $88.00 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Zacks Investment Research lowered shares of Bank of Hawaii from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Compass Point raised shares of Bank of Hawaii from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $90.50 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $77.00 price target (up previously from $75.00) on shares of Bank of Hawaii in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $90.42.
Bank of Hawaii (NYSE:BOH) last announced its earnings results on Monday, October 23rd. The bank reported $1.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.08. The company had revenue of $158.73 million for the quarter, compared to analyst estimates of $163.29 million. Bank of Hawaii had a return on equity of 15.45% and a net margin of 27.27%. During the same quarter in the previous year, the company earned $1.02 earnings per share. equities research analysts expect that Bank of Hawaii Co. will post 4.42 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Wednesday, November 29th. Bank of Hawaii’s payout ratio is 47.82%.
Bank of Hawaii announced that its Board of Directors has initiated a share repurchase plan on Monday, October 23rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Bank of Hawaii Company Profile
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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