American International Group Inc. cut its position in Bank of Hawaii Co. (NYSE:BOH) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,103 shares of the bank’s stock after selling 332 shares during the period. American International Group Inc.’s holdings in Bank of Hawaii were worth $5,729,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BOH. Commonwealth Equity Services LLC raised its holdings in shares of Bank of Hawaii by 3.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,784 shares of the bank’s stock worth $322,000 after acquiring an additional 144 shares during the period. ETF Managers Group LLC raised its holdings in shares of Bank of Hawaii by 18.2% during the fourth quarter. ETF Managers Group LLC now owns 1,602 shares of the bank’s stock worth $108,000 after acquiring an additional 247 shares during the period. Parallel Advisors LLC raised its holdings in shares of Bank of Hawaii by 26.5% during the fourth quarter. Parallel Advisors LLC now owns 1,206 shares of the bank’s stock worth $81,000 after acquiring an additional 253 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Bank of Hawaii by 12.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,034 shares of the bank’s stock worth $204,000 after acquiring an additional 325 shares during the period. Finally, Bbva Compass Bancshares Inc. raised its holdings in shares of Bank of Hawaii by 2.3% during the fourth quarter. Bbva Compass Bancshares Inc. now owns 14,885 shares of the bank’s stock worth $1,002,000 after acquiring an additional 337 shares during the period. Institutional investors own 74.86% of the company’s stock.
Shares of NYSE:BOH opened at $77.85 on Friday. Bank of Hawaii Co. has a 12 month low of $63.64 and a 12 month high of $88.92. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.24 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.92 and a beta of 0.88.
Bank of Hawaii announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 28th that allows the company to repurchase $130.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 28th were paid a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $2.48 annualized dividend and a yield of 3.19%. Bank of Hawaii’s payout ratio is currently 47.42%.
In other Bank of Hawaii news, Vice Chairman Sharon M. Crofts sold 5,833 shares of Bank of Hawaii stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $79.62, for a total value of $464,423.46. Following the sale, the insider now directly owns 48,778 shares in the company, valued at approximately $3,883,704.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.04% of the stock is currently owned by insiders.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Bank of Hawaii from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Tuesday, March 12th. ValuEngine upgraded shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Barclays restated a “hold” rating and set a $85.00 price objective on shares of Bank of Hawaii in a report on Friday, January 11th. Finally, Morgan Stanley dropped their price objective on shares of Bank of Hawaii from $84.00 to $80.00 and set an “underweight” rating on the stock in a report on Tuesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Bank of Hawaii currently has a consensus rating of “Hold” and an average price target of $86.50.
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Bank of Hawaii Company Profile
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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