First Hawaiian Bank lessened its holdings in shares of Bank of Hawaii Co. (NYSE:BOH) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,336 shares of the bank’s stock after selling 3,205 shares during the period. Bank of Hawaii comprises approximately 0.6% of First Hawaiian Bank’s investment portfolio, making the stock its 19th biggest position. First Hawaiian Bank owned 0.35% of Bank of Hawaii worth $11,541,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Altshuler Shaham Ltd bought a new position in Bank of Hawaii in the fourth quarter worth approximately $25,000. Lindbrook Capital LLC bought a new position in Bank of Hawaii in the fourth quarter worth approximately $34,000. Enlightenment Research LLC bought a new position in Bank of Hawaii in the fourth quarter worth approximately $40,000. Toronto Dominion Bank acquired a new position in shares of Bank of Hawaii during the fourth quarter worth $47,000. Finally, Destination Wealth Management increased its position in shares of Bank of Hawaii by 100.0% during the fourth 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. Institutional investors and hedge funds own 75.83% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Bank of Hawaii from a “hold” rating to a “sell” rating in a research report on Tuesday. Compass Point downgraded Bank of Hawaii from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $83.00 to $82.00 in a research report on Monday. ValuEngine raised shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Finally, Barclays reissued a “hold” rating and set a $85.00 price objective on shares of Bank of Hawaii in a report on Friday, January 11th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Bank of Hawaii currently has an average rating of “Hold” and an average price target of $85.60.
Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, April 22nd. The bank reported $1.43 EPS for the quarter, beating the consensus estimate of $1.36 by $0.07. Bank of Hawaii had a net margin of 30.64% and a return on equity of 17.81%. The company had revenue of $168.52 million for the quarter, compared to analyst estimates of $166.51 million. During the same period in the prior year, the company earned $1.28 earnings per share. Sell-side analysts anticipate that Bank of Hawaii Co. will post 5.58 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, May 30th. This is an increase from Bank of Hawaii’s previous quarterly dividend of $0.62. Bank of Hawaii’s dividend payout ratio is 47.42%.
Bank of Hawaii announced that its board has approved a share buyback plan on Monday, January 28th that allows the company to repurchase $130.00 million in shares. This repurchase authorization allows the bank to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In related news, Vice Chairman Sharon M. Crofts sold 5,833 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 48,778 shares in the company, valued at approximately $3,883,704.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.13% of the stock is owned by corporate insiders.
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Bank of Hawaii 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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