Basswood Capital Management L.L.C. Invests $26.44 Million in Bank of Hawaii Corporation $BOH

Basswood Capital Management L.L.C. bought a new stake in Bank of Hawaii Corporation (NYSE:BOH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 324,499 shares of the bank’s stock, valued at approximately $26,443,000.

A number of other large investors also recently made changes to their positions in BOH. BlackRock Inc. bought a new stake in Bank of Hawaii in the 2nd quarter valued at $470,538,000. Vanguard Group Inc. increased its position in Bank of Hawaii by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 4,565,434 shares of the bank’s stock worth $312,139,000 after buying an additional 26,821 shares during the period. Dimensional Fund Advisors LP increased its position in Bank of Hawaii by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,106,873 shares of the bank’s stock worth $82,182,000 after buying an additional 22,356 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Bank of Hawaii by 122.3% during the third quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank’s stock worth $66,464,000 after buying an additional 557,148 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Bank of Hawaii by 36.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 865,384 shares of the bank’s stock worth $59,166,000 after buying an additional 229,806 shares in the last quarter. Institutional investors own 82.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stephens downgraded shares of Bank of Hawaii from an “overweight” rating to an “equal weight” rating and set a $85.00 price target on the stock. in a research note on Thursday, August 6th. DA Davidson lifted their price objective on shares of Bank of Hawaii from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Benchmark reissued a “hold” rating on shares of Bank of Hawaii in a report on Tuesday, July 28th. Keefe, Bruyette & Woods cut their price objective on shares of Bank of Hawaii from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Monday, August 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank of Hawaii in a research report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $85.00.

Bank of Hawaii Stock Performance

Shares of Bank of Hawaii stock opened at $77.12 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33. The company has a market cap of $3.04 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 0.86 and a beta of 0.71. The company has a 50 day moving average of $80.84 and a 200-day moving average of $78.30. Bank of Hawaii Corporation has a 1-year low of $59.36 and a 1-year high of $86.31.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.01. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. The business had revenue of $196.90 million for the quarter, compared to analysts’ expectations of $199.51 million. During the same period last year, the firm posted $1.06 earnings per share. As a group, equities research analysts forecast that Bank of Hawaii Corporation will post 5.91 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.70 dividend. The ex-dividend date is Monday, August 31st. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. Bank of Hawaii’s dividend payout ratio (DPR) is presently 52.24%.

Insider Activity at Bank of Hawaii

In other news, insider Marco A. Abbruzzese sold 2,441 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $81.59, for a total transaction of $199,161.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.97% of the company’s stock.

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.