Teacher Retirement System of Texas Acquires 2,409 Shares of Bank of Hawaii Corporation $BOH

Teacher Retirement System of Texas boosted its holdings in Bank of Hawaii Corporation (NYSE:BOH) by 36.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,062 shares of the bank’s stock after purchasing an additional 2,409 shares during the period. Teacher Retirement System of Texas’ holdings in Bank of Hawaii were worth $612,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of 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 worth $150,406,000 after buying an additional 418,055 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Bank of Hawaii by 9.2% in the first quarter. Ameriprise Financial Inc. now owns 706,105 shares of the bank’s stock valued at $48,700,000 after acquiring an additional 59,215 shares during the last quarter. 140 Summer Partners LP bought a new position in shares of Bank of Hawaii during the 1st quarter valued at approximately $41,633,000. Natixis Advisors LLC increased its stake in shares of Bank of Hawaii by 13.0% during the 1st quarter. Natixis Advisors LLC now owns 325,174 shares of the bank’s stock worth $22,427,000 after purchasing an additional 37,413 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Bank of Hawaii by 4,090.7% in the 1st quarter. Millennium Management LLC now owns 302,315 shares of the bank’s stock worth $20,851,000 after purchasing an additional 295,101 shares during the period. 82.18% of the stock is owned by hedge funds and other institutional investors.

Bank of Hawaii Stock Performance

Shares of BOH opened at $65.60 on Friday. Bank of Hawaii Corporation has a 52-week low of $57.44 and a 52-week high of $82.70. The stock’s 50-day simple moving average is $65.28 and its 200 day simple moving average is $66.36. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 0.76 and a beta of 0.88.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, October 27th. The bank reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Bank of Hawaii had a return on equity of 13.33% and a net margin of 17.41%.The business had revenue of $182.64 million during the quarter, compared to analyst estimates of $180.95 million. During the same quarter in the previous year, the firm earned $0.93 EPS. Research analysts forecast that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.80 annualized dividend and a yield of 4.3%. Bank of Hawaii’s payout ratio is currently 68.63%.

Analyst Ratings Changes

BOH has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Bank of Hawaii in a report on Wednesday, October 8th. DA Davidson reaffirmed a “neutral” rating and set a $70.00 price target on shares of Bank of Hawaii in a research report on Tuesday, October 28th. Stephens decreased their price objective on Bank of Hawaii from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Tuesday, July 29th. Piper Sandler assumed coverage on Bank of Hawaii in a research note on Thursday, August 21st. They issued a “neutral” rating and a $71.00 price objective on the stock. Finally, Barclays upped their price objective on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $73.20.

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.