American Century Companies Inc. grew its position in Bank of Hawaii Co. (NYSE:BOH) by 17.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,208,113 shares of the bank’s stock after purchasing an additional 182,235 shares during the quarter. American Century Companies Inc.’s holdings in Bank of Hawaii were worth $103,535,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC raised 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 worth $103,249,000 after buying an additional 30,082 shares during the last quarter. Macquarie Group Ltd. raised 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 worth $90,221,000 after buying an additional 66,628 shares during the last quarter. Dimensional Fund Advisors LP raised 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 worth $86,434,000 after buying an additional 6,490 shares during the last quarter. Wasatch Advisors Inc. raised its holdings in Bank of Hawaii by 4.0% in the second quarter. Wasatch Advisors Inc. now owns 787,183 shares of the bank’s stock worth $65,313,000 after buying an additional 30,009 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in Bank of Hawaii by 3.7% in the third quarter. Epoch Investment Partners Inc. now owns 625,081 shares of the bank’s stock worth $52,107,000 after buying an additional 22,247 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.
BOH has been the subject of several recent analyst reports. Compass Point raised shares of Bank of Hawaii from a “neutral” rating to a “buy” rating in a report on Monday, December 18th. Morgan Stanley lifted their target price on shares of Bank of Hawaii from $76.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, December 13th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $92.00 target price on shares of Bank of Hawaii in a report on Friday, December 22nd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $90.50 target price on shares of Bank of Hawaii in a report on Tuesday, October 24th. Finally, Barclays lifted their target price on shares of Bank of Hawaii from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Bank of Hawaii currently has an average rating of “Hold” and an average price target of $91.92.
Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.08). Bank of Hawaii had a return on equity of 15.48% and a net margin of 26.80%. The company had revenue of $160.63 million during the quarter, compared to the consensus estimate of $162.90 million. During the same quarter in the prior year, the firm earned $1.02 earnings per share. research analysts anticipate that Bank of Hawaii Co. will post 5.19 EPS for the current fiscal year.
Bank of Hawaii announced that its Board of Directors has approved a share repurchase program on Monday, October 23rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 28th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.60%. Bank of Hawaii’s dividend payout ratio is presently 47.93%.
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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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