Country Club Trust Company n.a. cut its holdings in shares of Bank of Hawaii Co. (NYSE:BOH) by 3.1% during the fourth quarter, Holdings Channel reports. The fund owned 155,661 shares of the bank’s stock after selling 4,972 shares during the period. Bank of Hawaii makes up about 1.8% of Country Club Trust Company n.a.’s portfolio, making the stock its 15th biggest position. Country Club Trust Company n.a.’s holdings in Bank of Hawaii were worth $13,340,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp boosted its position in Bank of Hawaii by 11.7% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 72,560 shares of the bank’s stock valued at $6,218,000 after buying an additional 7,575 shares during the last quarter. GSA Capital Partners LLP bought a new position in Bank of Hawaii in the 3rd quarter valued at $749,000. Walthausen & Co. LLC boosted its position in Bank of Hawaii by 12.0% in the 3rd quarter. Walthausen & Co. LLC now owns 79,922 shares of the bank’s stock valued at $6,662,000 after buying an additional 8,580 shares during the last quarter. California Public Employees Retirement System boosted its position in Bank of Hawaii by 4.3% in the 3rd quarter. California Public Employees Retirement System now owns 132,026 shares of the bank’s stock valued at $11,006,000 after buying an additional 5,448 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Bank of Hawaii in the 3rd quarter valued at $665,000. Institutional investors and hedge funds own 75.66% of the company’s stock.
A number of research analysts have commented on the company. Zacks Investment Research upgraded Bank of Hawaii from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research report on Wednesday. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $88.00 price objective on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Compass Point upgraded Bank of Hawaii from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Piper Jaffray Companies restated a “hold” rating and issued a $90.50 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Finally, Morgan Stanley restated an “underweight” rating and issued a $77.00 price target (up from $75.00) on shares of Bank of Hawaii in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Bank of Hawaii currently has a consensus rating of “Hold” and a consensus price target of $92.25.
Bank of Hawaii Co. (NYSE:BOH) traded up $1.07 during trading hours on Friday, hitting $87.87. The stock had a trading volume of 206,200 shares, compared to its average volume of 199,637. Bank of Hawaii Co. has a 1-year low of $74.72 and a 1-year high of $90.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $3,760.00, a price-to-earnings ratio of 20.25, a P/E/G ratio of 2.15 and a beta of 0.97.
Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $1.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.08. Bank of Hawaii had a return on equity of 15.45% and a net margin of 27.27%. The business had revenue of $158.73 million for the quarter, compared to analyst estimates of $163.29 million. During the same period last year, the company earned $1.02 EPS. sell-side analysts predict that Bank of Hawaii Co. will post 4.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were given a $0.52 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $2.08 annualized dividend and a dividend yield of 2.37%. Bank of Hawaii’s dividend payout ratio is currently 47.93%.
Bank of Hawaii announced that its Board of Directors has approved a stock buyback program on Monday, October 23rd that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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Bank of Hawaii Company Profile
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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