Payden & Rygel lowered its stake in shares of Bank of Hawaii (NYSE:BOH) by 12.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 141,600 shares of the bank’s stock after selling 19,500 shares during the period. Payden & Rygel owned 0.33% of Bank of Hawaii worth $11,767,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Bank of Hawaii in the 4th quarter valued at $144,000. Weil Company Inc. purchased a new stake in shares of Bank of Hawaii in the 4th quarter valued at $202,000. State of Alaska Department of Revenue purchased a new stake in shares of Bank of Hawaii in the 4th quarter valued at $214,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Bank of Hawaii by 44.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,258 shares of the bank’s stock valued at $271,000 after buying an additional 1,002 shares during the period. Finally, Ingalls & Snyder LLC purchased a new stake in shares of Bank of Hawaii in the 4th quarter valued at $291,000. 77.37% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on BOH shares. Zacks Investment Research downgraded Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Monday, March 26th. Morgan Stanley cut their price target on Bank of Hawaii from $88.00 to $86.00 and set an “underweight” rating on the stock in a report on Friday, January 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of Bank of Hawaii in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $90.92.
Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, April 23rd. The bank reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. Bank of Hawaii had a return on equity of 15.56% and a net margin of 27.19%. The business had revenue of $162.99 million for the quarter, compared to the consensus estimate of $160.91 million. During the same quarter in the prior year, the business posted $1.20 EPS. research analysts expect that Bank of Hawaii will post 5.26 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 31st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from Bank of Hawaii’s previous quarterly dividend of $0.52. Bank of Hawaii’s dividend payout ratio is presently 47.17%.
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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