Wedge Capital Management L L P NC trimmed its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 44.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,837 shares of the bank’s stock after selling 2,302 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Bank of Hawaii were worth $244,000 at the end of the most recent quarter.
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Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 6 Meridian grew its position in Bank of Hawaii by 2.0% during the 2nd quarter. 6 Meridian now owns 6,539 shares of the bank’s stock worth $542,000 after purchasing an additional 131 shares in the last quarter. OLD National Bancorp IN bought a new position in Bank of Hawaii during the second quarter worth about $205,000. Oregon Public Employees Retirement Fund boosted its stake in Bank of Hawaii by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 16,945 shares of the bank’s stock worth $1,405,000 after acquiring an additional 236 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Bank of Hawaii by 9.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 5,180 shares of the bank’s stock valued at $429,000 after buying an additional 466 shares during the period. Finally, Huntington National Bank grew its stake in Bank of Hawaii by 105.0% in the second quarter. Huntington National Bank now owns 1,952 shares of the bank’s stock valued at $162,000 after acquiring an additional 1,000 shares during the period. 75.55% of the stock is owned by hedge funds and other institutional investors.
Shares of BOH stock opened at $89.95 on Tuesday. The firm’s 50-day moving average is $88.17 and its 200-day moving average is $83.56. Bank of Hawaii Co. has a 52-week low of $63.64 and a 52-week high of $91.52. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 2.04 and a beta of 0.93. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70.
Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data on Monday, October 28th. The bank reported $1.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.09). Bank of Hawaii had a net margin of 29.05% and a return on equity of 17.33%. The company had revenue of $171.40 million during the quarter, compared to the consensus estimate of $168.80 million. During the same period in the previous year, the company earned $1.36 earnings per share. Sell-side analysts predict that Bank of Hawaii Co. will post 5.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, November 26th. This is an increase from Bank of Hawaii’s previous quarterly dividend of $0.65. This represents a $2.68 annualized dividend and a yield of 2.98%. Bank of Hawaii’s payout ratio is 51.24%.
Separately, Zacks Investment Research raised shares of Bank of Hawaii from a “sell” rating to a “hold” rating and set a $94.00 price target on the stock in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $85.25.
About Bank of Hawaii
Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides financial products and services in Hawaii, Guam, and other Pacific Islands. It operates through four segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other.
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