Dean Investment Associates LLC decreased its position in Bank of Hawaii Co. (NYSE:BOH) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,150 shares of the bank’s stock after selling 3,165 shares during the quarter. Dean Investment Associates LLC owned about 0.13% of Bank of Hawaii worth $4,681,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Bank of Hawaii by 2.1% in the second quarter. Vanguard Group Inc. now owns 3,671,470 shares of the bank’s stock valued at $304,622,000 after purchasing an additional 75,570 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Bank of Hawaii by 2.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,582 shares of the bank’s stock valued at $103,249,000 after purchasing an additional 30,082 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of Bank of Hawaii by 6.6% in the third quarter. Macquarie Group Ltd. now owns 1,082,303 shares of the bank’s stock valued at $90,221,000 after purchasing an additional 66,628 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Bank of Hawaii by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,036,874 shares of the bank’s stock valued at $86,434,000 after purchasing an additional 6,490 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Bank of Hawaii by 28.9% in the third quarter. American Century Companies Inc. now owns 1,025,878 shares of the bank’s stock valued at $85,517,000 after purchasing an additional 229,779 shares during the last quarter. 75.67% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on BOH. Zacks Investment Research raised Bank of Hawaii from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Jefferies Group reissued a “hold” rating and set a $85.00 price target on shares of Bank of Hawaii in a research report on Friday, September 15th. Morgan Stanley reissued an “underweight” rating and set a $77.00 price target (up previously from $75.00) on shares of Bank of Hawaii in a research report on Wednesday, October 4th. Piper Jaffray Companies reissued a “hold” rating and set a $90.50 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $88.00 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $87.92.
Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, October 23rd. The bank reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Bank of Hawaii had a return on equity of 15.45% and a net margin of 27.27%. The firm had revenue of $158.73 million during the quarter, compared to analysts’ expectations of $163.29 million. During the same period in the prior year, the company earned $1.02 earnings per share. equities analysts anticipate that Bank of Hawaii Co. will post 4.42 EPS for the current fiscal year.
Bank of Hawaii announced that its board has authorized a stock repurchase program on Monday, October 23rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, November 29th. Bank of Hawaii’s payout ratio is presently 47.82%.
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About Bank of Hawaii
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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