Deprince Race & Zollo Inc. Makes New $34.38 Million Investment in Bank of Hawaii Corporation $BOH

Deprince Race & Zollo Inc. bought a new position in shares of Bank of Hawaii Corporation (NYSE:BOH) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 463,100 shares of the bank’s stock, valued at approximately $34,385,000.

Several other hedge funds have also modified their holdings of the stock. Royal Bank of Canada raised its position in Bank of Hawaii by 16.4% in the 1st quarter. Royal Bank of Canada now owns 26,241 shares of the bank’s stock worth $1,808,000 after purchasing an additional 3,689 shares during the last quarter. AQR Capital Management LLC boosted its position in Bank of Hawaii by 177.5% in the 1st quarter. AQR Capital Management LLC now owns 23,818 shares of the bank’s stock valued at $1,617,000 after buying an additional 15,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Bank of Hawaii by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank’s stock valued at $1,605,000 after buying an additional 1,027 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Bank of Hawaii by 35.8% in the 1st quarter. Intech Investment Management LLC now owns 19,808 shares of the bank’s stock valued at $1,366,000 after buying an additional 5,227 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Bank of Hawaii in the 1st quarter valued at $41,000. 82.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BOH shares. Zacks Research lowered Bank of Hawaii from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. DA Davidson lifted their price objective on Bank of Hawaii from $77.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 21st. Piper Sandler dropped their price objective on Bank of Hawaii from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Keefe, Bruyette & Woods upped their target price on shares of Bank of Hawaii from $91.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings raised shares of Bank of Hawaii from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $85.40.

Bank of Hawaii Stock Performance

Shares of Bank of Hawaii stock opened at $82.91 on Thursday. The firm has a fifty day moving average of $78.33 and a two-hundred day moving average of $75.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 0.85 and a beta of 0.70. Bank of Hawaii Corporation has a 52 week low of $59.36 and a 52 week high of $83.64.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, April 20th. The bank reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). Bank of Hawaii had a return on equity of 14.97% and a net margin of 20.46%.The company had revenue of $192.32 million during the quarter, compared to the consensus estimate of $193.53 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. As a group, equities research analysts predict that Bank of Hawaii Corporation will post 5.91 EPS for the current year.

Bank of Hawaii Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.80 annualized dividend and a yield of 3.4%. Bank of Hawaii’s dividend payout ratio is presently 56.57%.

Bank of Hawaii Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.