Public Sector Pension Investment Board Buys 19,815 Shares of Bank of Hawaii Corporation $BOH

Public Sector Pension Investment Board lifted its stake in shares of Bank of Hawaii Corporation (NYSE:BOH) by 14.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 155,147 shares of the bank’s stock after buying an additional 19,815 shares during the quarter. Public Sector Pension Investment Board’s holdings in Bank of Hawaii were worth $10,184,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Farther Finance Advisors LLC grew its stake in Bank of Hawaii by 150.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 450 shares of the bank’s stock valued at $30,000 after buying an additional 270 shares during the last quarter. Strs Ohio acquired a new position in shares of Bank of Hawaii in the first quarter valued at approximately $41,000. EverSource Wealth Advisors LLC grew its position in shares of Bank of Hawaii by 461.3% in the second quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $42,000 after purchasing an additional 512 shares during the last quarter. State of Wyoming increased its stake in shares of Bank of Hawaii by 8,220.0% during the second quarter. State of Wyoming now owns 832 shares of the bank’s stock worth $56,000 after purchasing an additional 822 shares during the period. Finally, CoreFirst Bank & Trust acquired a new stake in Bank of Hawaii during the 2nd quarter worth approximately $83,000. Institutional investors own 82.18% of the company’s stock.

Insider Activity

In related news, CEO Peter S. Ho sold 15,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $67.87, for a total value of $1,018,050.00. Following the completion of the transaction, the chief executive officer owned 156,774 shares of the company’s stock, valued at $10,640,251.38. This represents a 8.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on BOH shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bank of Hawaii in a report on Monday, December 29th. Zacks Research upgraded shares of Bank of Hawaii from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. DA Davidson lifted their price objective on shares of Bank of Hawaii from $73.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 27th. Keefe, Bruyette & Woods raised shares of Bank of Hawaii from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $75.00 to $91.00 in a report on Tuesday, January 27th. Finally, Barclays raised their target price on shares of Bank of Hawaii from $75.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $81.80.

Bank of Hawaii Stock Performance

Shares of Bank of Hawaii stock opened at $78.21 on Tuesday. The company has a 50 day moving average of $72.25 and a 200-day moving average of $67.82. The company has a market cap of $3.11 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.81 and a beta of 0.75. Bank of Hawaii Corporation has a 1-year low of $57.44 and a 1-year high of $80.25. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, January 26th. The bank reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.14. Bank of Hawaii had a return on equity of 14.42% and a net margin of 19.30%.The company had revenue of $189.65 million during the quarter, compared to analysts’ expectations of $184.83 million. During the same quarter in the previous year, the firm earned $0.85 EPS. As a group, equities research analysts forecast that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. Bank of Hawaii’s payout ratio is 60.61%.

Bank of Hawaii Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.