Voloridge Investment Management LLC acquired a new stake in shares of Bank of Hawaii Co. (NYSE:BOH) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,488 shares of the bank’s stock, valued at approximately $1,417,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Barclays PLC raised its position in Bank of Hawaii by 27.2% in the 3rd quarter. Barclays PLC now owns 12,777 shares of the bank’s stock worth $1,098,000 after purchasing an additional 2,733 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Bank of Hawaii by 3.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 18,737 shares of the bank’s stock worth $1,610,000 after purchasing an additional 568 shares during the period. California State Teachers Retirement System lifted its position in shares of Bank of Hawaii by 0.3% in the 3rd quarter. California State Teachers Retirement System now owns 64,370 shares of the bank’s stock worth $5,531,000 after purchasing an additional 173 shares during the period. Stifel Financial Corp boosted its stake in shares of Bank of Hawaii by 2.0% during the 3rd quarter. Stifel Financial Corp now owns 64,277 shares of the bank’s stock valued at $5,520,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new position in shares of Bank of Hawaii during the third quarter valued at about $209,000. 75.55% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research raised shares of Bank of Hawaii from a “sell” rating to a “hold” rating and set a $94.00 price target for the company in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Bank of Hawaii has a consensus rating of “Hold” and an average price target of $85.25.
Bank of Hawaii (NYSE:BOH) last announced its earnings results on Monday, October 28th. The bank reported $1.29 EPS for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.09). The business had revenue of $171.40 million for the quarter, compared to the consensus estimate of $168.80 million. Bank of Hawaii had a net margin of 29.05% and a return on equity of 17.33%. During the same quarter last year, the firm posted $1.36 EPS. Equities research analysts expect that Bank of Hawaii Co. will post 5.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.67 per share. This is a boost from Bank of Hawaii’s previous quarterly dividend of $0.65. This represents a $2.68 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Tuesday, November 26th. Bank of Hawaii’s dividend payout ratio (DPR) is 51.24%.
Bank of Hawaii Company Profile
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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