Shares of Bank of Hawaii Corporation (NYSE:BOH – Get Free Report) have earned a consensus rating of “Reduce” from the six brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $73.17.
Separately, Barclays raised their target price on shares of Bank of Hawaii from $64.00 to $67.00 and gave the company an “underweight” rating in a research note on Tuesday, April 22nd.
Check Out Our Latest Research Report on Bank of Hawaii
Bank of Hawaii Stock Down 0.3%
Bank of Hawaii (NYSE:BOH – Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. The business had revenue of $169.87 million for the quarter, compared to analysts’ expectations of $168.65 million. Bank of Hawaii had a return on equity of 12.16% and a net margin of 15.12%. During the same quarter last year, the business earned $0.87 earnings per share. On average, analysts predict that Bank of Hawaii will post 3.97 earnings per share for the current year.
Bank of Hawaii Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Friday, May 30th. Bank of Hawaii’s dividend payout ratio (DPR) is currently 78.65%.
Insiders Place Their Bets
In other news, insider Taryn L. Salmon sold 1,652 shares of Bank of Hawaii stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $66.15, for a total transaction of $109,279.80. Following the transaction, the insider now directly owns 6,442 shares of the company’s stock, valued at $426,138.30. This trade represents a 20.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.07% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Bank of Hawaii by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,618,206 shares of the bank’s stock valued at $329,001,000 after purchasing an additional 31,918 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in Bank of Hawaii by 23.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,180,744 shares of the bank’s stock valued at $150,406,000 after acquiring an additional 418,055 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Bank of Hawaii by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,571,512 shares of the bank’s stock valued at $111,955,000 after acquiring an additional 60,092 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Bank of Hawaii by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 840,574 shares of the bank’s stock valued at $59,884,000 after purchasing an additional 42,719 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Bank of Hawaii in the fourth quarter valued at about $54,309,000. 82.18% of the stock is owned by institutional investors and hedge funds.
About Bank of Hawaii
Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, overdraft lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, as well as high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.
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