PNC Financial Services Group Inc. lifted its position in shares of Bank of Hawaii Co. (NYSE:BOH) by 9.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,322 shares of the bank’s stock after buying an additional 736 shares during the period. PNC Financial Services Group Inc.’s holdings in Bank of Hawaii were worth $684,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in BOH. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Bank of Hawaii by 12.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,726,821 shares of the bank’s stock worth $229,654,000 after buying an additional 311,942 shares during the last quarter. State Street Corp increased its holdings in Bank of Hawaii by 9.8% in the 2nd quarter. State Street Corp now owns 1,974,260 shares of the bank’s stock valued at $166,272,000 after purchasing an additional 175,527 shares in the last quarter. Vanguard Group Inc. increased its holdings in Bank of Hawaii by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,860,667 shares of the bank’s stock valued at $325,146,000 after purchasing an additional 102,251 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Bank of Hawaii by 4.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,481,748 shares of the bank’s stock valued at $121,755,000 after purchasing an additional 65,355 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Bank of Hawaii by 11.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 632,206 shares of the bank’s stock valued at $53,245,000 after purchasing an additional 62,510 shares in the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.
Separately, Jefferies Financial Group lowered their price target on Bank of Hawaii from $87.00 to $84.00 and set a “hold” rating for the company in a report on Monday, October 11th.
Shares of NYSE BOH opened at $91.88 on Friday. Bank of Hawaii Co. has a 12-month low of $75.68 and a 12-month high of $99.10. The company has a market cap of $3.70 billion, a P/E ratio of 15.95, a P/E/G ratio of 2.17 and a beta of 1.23. The stock has a fifty day moving average price of $85.13 and a 200 day moving average price of $83.96.
Bank of Hawaii (NYSE:BOH) last announced its earnings results on Sunday, October 24th. The bank reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.19. The company had revenue of $168.20 million during the quarter, compared to the consensus estimate of $167.36 million. Bank of Hawaii had a return on equity of 16.69% and a net margin of 33.28%. During the same period last year, the firm earned $0.95 earnings per share. As a group, equities analysts predict that Bank of Hawaii Co. will post 6.1 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 14th. Stockholders of record on Tuesday, November 30th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, November 29th. This represents a $2.80 annualized dividend and a dividend yield of 3.05%. Bank of Hawaii’s dividend payout ratio is presently 48.61%.
About Bank of Hawaii
Bank of Hawaii Corp. operates as a bank holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other. The Retail Banking segment offers financial products and services to consumers and small businesses.
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