Nisa Investment Advisors LLC lessened its position in shares of Bank of Hawaii Co. (NYSE:BOH) by 10.0% in the first quarter, HoldingsChannel reports. The firm owned 12,100 shares of the bank’s stock after selling 1,350 shares during the period. Nisa Investment Advisors LLC’s holdings in Bank of Hawaii were worth $954,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Bank of Hawaii during the 4th quarter worth about $25,000. Lindbrook Capital LLC bought a new position in Bank of Hawaii during the 4th quarter worth about $34,000. Enlightenment Research LLC bought a new position in Bank of Hawaii during the 4th quarter worth about $40,000. Toronto Dominion Bank bought a new position in Bank of Hawaii during the 4th quarter worth about $47,000. Finally, Destination Wealth Management increased its holdings in Bank of Hawaii by 100.0% during the 4th quarter. Destination Wealth Management now owns 1,000 shares of the bank’s stock worth $67,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 75.83% of the company’s stock.
Shares of BOH stock opened at $82.78 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.97 and a beta of 0.87. Bank of Hawaii Co. has a 12-month low of $63.64 and a 12-month high of $88.92.
Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data on Monday, April 22nd. The bank reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.07. The firm had revenue of $168.52 million during the quarter, compared to the consensus estimate of $166.51 million. Bank of Hawaii had a net margin of 30.64% and a return on equity of 17.81%. During the same period last year, the business posted $1.28 earnings per share. On average, sell-side analysts anticipate that Bank of Hawaii Co. will post 5.59 EPS for the current fiscal year.
Bank of Hawaii announced that its board has authorized a share repurchase plan on Monday, January 28th that allows the company to repurchase $130.00 million in shares. This repurchase authorization allows the bank to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, May 30th. This is an increase from Bank of Hawaii’s previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 3.14%. Bank of Hawaii’s dividend payout ratio (DPR) is 47.42%.
In other Bank of Hawaii news, Vice Chairman Sharon M. Crofts sold 5,833 shares of the firm’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $79.62, for a total transaction of $464,423.46. Following the completion of the sale, the insider now directly owns 48,778 shares in the company, valued at $3,883,704.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.13% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Compass Point cut Bank of Hawaii from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $83.00 to $82.00 in a report on Monday, April 22nd. ValuEngine cut Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Finally, Barclays restated a “hold” rating and issued a $85.00 price objective on shares of Bank of Hawaii in a report on Friday, January 11th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $85.60.
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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