Baird Financial Group Inc. lowered its position in Bank of Hawaii Co. (NYSE:BOH) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,091 shares of the bank’s stock after selling 1,200 shares during the period. Baird Financial Group Inc.’s holdings in Bank of Hawaii were worth $2,149,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Oxford Asset Management acquired a new stake in Bank of Hawaii during the first quarter worth about $911,000. Keybank National Association OH raised its stake in Bank of Hawaii by 3.3% in the first quarter. Keybank National Association OH now owns 157,751 shares of the bank’s stock worth $12,992,000 after buying an additional 5,092 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in Bank of Hawaii by 4.4% in the first quarter. Mutual of America Capital Management LLC now owns 34,503 shares of the bank’s stock worth $2,842,000 after buying an additional 1,445 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Bank of Hawaii by 1.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,106,917 shares of the bank’s stock worth $91,165,000 after buying an additional 16,182 shares during the last quarter. Finally, Virginia Retirement Systems ET AL raised its stake in Bank of Hawaii by 1.8% in the first quarter. Virginia Retirement Systems ET AL now owns 5,700 shares of the bank’s stock worth $469,000 after buying an additional 100 shares during the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.
Shares of Bank of Hawaii Co. (NYSE:BOH) traded up 0.35% during midday trading on Friday, hitting $78.39. 121,587 shares of the company were exchanged. The company has a 50-day moving average price of $81.00 and a 200-day moving average price of $83.90. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 18.36 and a beta of 0.92. Bank of Hawaii Co. has a 52-week low of $64.96 and a 52-week high of $90.80.
Bank of Hawaii (NYSE:BOH) last announced its earnings results on Monday, April 24th. The bank reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. Bank of Hawaii had a net margin of 27.69% and a return on equity of 15.71%. The firm had revenue of $165.79 million during the quarter, compared to the consensus estimate of $159.45 million. During the same quarter in the previous year, the company posted $1.16 EPS. On average, analysts forecast that Bank of Hawaii Co. will post $4.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Investors of record on Wednesday, May 31st will be paid a $0.50 dividend. This is an increase from Bank of Hawaii’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, May 26th. This represents a $2.00 annualized dividend and a yield of 2.55%. Bank of Hawaii’s payout ratio is presently 45.39%.
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Separately, Zacks Investment Research raised shares of Bank of Hawaii from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Friday, April 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Bank of Hawaii has a consensus rating of “Hold” and a consensus price target of $76.17.
In other Bank of Hawaii news, CEO Peter S. Ho sold 10,000 shares of Bank of Hawaii stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $82.42, for a total value of $824,200.00. Following the completion of the sale, the chief executive officer now owns 183,386 shares in the company, valued at approximately $15,114,674.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter S. Ho sold 15,000 shares of Bank of Hawaii stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $82.17, for a total value of $1,232,550.00. Following the completion of the sale, the chief executive officer now owns 173,386 shares of the company’s stock, valued at approximately $14,247,127.62. The disclosure for this sale can be found here. Insiders sold a total of 65,497 shares of company stock valued at $5,493,400 in the last three months. 2.52% of the stock is currently owned by corporate insiders.
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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