CHURCHILL MANAGEMENT Corp grew its stake in Bank of Hawaii Co. (NYSE:BOH) by 11.7% during the 4th quarter, HoldingsChannel reports. The firm owned 72,560 shares of the bank’s stock after buying an additional 7,575 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Bank of Hawaii were worth $6,218,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Bank of Hawaii in the 3rd quarter worth approximately $117,000. Rocky Mountain Advisers LLC boosted its position in Bank of Hawaii by 13,300.0% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,010 shares of the bank’s stock worth $168,000 after purchasing an additional 1,995 shares in the last quarter. Magnetar Financial LLC purchased a new stake in Bank of Hawaii in the 3rd quarter worth approximately $203,000. Trexquant Investment LP purchased a new stake in Bank of Hawaii in the 3rd quarter worth approximately $240,000. Finally, Eagle Ridge Investment Management purchased a new stake in Bank of Hawaii in the 3rd quarter worth approximately $244,000. Institutional investors and hedge funds own 75.66% of the company’s stock.
Several research firms have commented on BOH. Zacks Investment Research upgraded Bank of Hawaii from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research report on Wednesday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $88.00 price objective on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Compass Point upgraded Bank of Hawaii from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Piper Jaffray Companies restated a “hold” rating and issued a $90.50 price objective on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Finally, Morgan Stanley restated an “underweight” rating and issued a $77.00 price objective (up previously from $75.00) on shares of Bank of Hawaii in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $92.25.
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. Bank of Hawaii had a return on equity of 15.45% and a net margin of 27.27%. The firm had revenue of $158.73 million for the quarter, compared to analyst estimates of $163.29 million. During the same quarter last year, the firm posted $1.02 EPS. analysts forecast that Bank of Hawaii Co. will post 4.42 earnings per share for the current year.
Bank of Hawaii declared that its Board of Directors has initiated 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 buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, November 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.37%. Bank of Hawaii’s dividend payout ratio (DPR) is 47.93%.
Bank of Hawaii 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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