First American Bank reduced its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 2.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 39,164 shares of the bank’s stock after selling 877 shares during the period. First American Bank owned approximately 0.09% of Bank of Hawaii worth $3,089,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of BOH. Vanguard Group Inc boosted its position in Bank of Hawaii by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 3,977,421 shares of the bank’s stock worth $313,859,000 after acquiring an additional 127,262 shares during the period. Stifel Financial Corp lifted its holdings in shares of Bank of Hawaii by 5.5% during the 4th quarter. Stifel Financial Corp now owns 50,412 shares of the bank’s stock valued at $3,406,000 after buying an additional 2,619 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Bank of Hawaii during the 3rd quarter valued at about $272,000. InterOcean Capital LLC lifted its holdings in shares of Bank of Hawaii by 136.6% during the 3rd quarter. InterOcean Capital LLC now owns 19,400 shares of the bank’s stock valued at $1,531,000 after buying an additional 11,200 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Bank of Hawaii by 4.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 10,669 shares of the bank’s stock valued at $718,000 after buying an additional 473 shares during the last quarter. 75.81% of the stock is owned by institutional investors.
Shares of BOH stock opened at $81.40 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. Bank of Hawaii Co. has a twelve month low of $63.64 and a twelve month high of $88.92. The company has a market capitalization of $3.34 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.93 and a beta of 0.87.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase from Bank of Hawaii’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, May 30th. Bank of Hawaii’s dividend payout ratio (DPR) is presently 47.42%.
Bank of Hawaii declared that its Board of Directors has approved a stock buyback program on Monday, January 28th that allows the company to repurchase $130.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several brokerages have recently issued reports on BOH. Zacks Investment Research upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Compass Point lowered Bank of Hawaii from a “buy” rating to a “neutral” rating and reduced their price target for the company from $83.00 to $82.00 in a report on Monday. ValuEngine lowered Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Finally, Barclays reiterated a “hold” rating and set a $85.00 price target 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 given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $85.60.
In related 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 stock was sold at an average price of $79.62, for a total value of $464,423.46. Following the transaction, the insider now directly owns 48,778 shares of the company’s stock, valued at approximately $3,883,704.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.13% of the stock is currently owned by company insiders.
About Bank of Hawaii
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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