Centaurus Financial Inc. Takes $1.17 Million Position in Bank of Hawaii Corporation $BOH

Centaurus Financial Inc. acquired a new position in shares of Bank of Hawaii Corporation (NYSE:BOH) during the second quarter, HoldingsChannel.com reports. The firm acquired 14,393 shares of the bank’s stock, valued at approximately $1,173,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BOH. BlackRock Inc. acquired a new stake in shares of Bank of Hawaii in the 2nd quarter worth $470,538,000. Balyasny Asset Management L.P. boosted its position in shares of Bank of Hawaii by 122.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank’s stock valued at $66,464,000 after acquiring an additional 557,148 shares during the last quarter. NFJ Investment Group LLC acquired a new position in shares of Bank of Hawaii during the 2nd quarter valued at about $39,758,000. Bank of New York Mellon Corp purchased a new stake in shares of Bank of Hawaii in the second quarter valued at about $37,864,000. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of Bank of Hawaii in the first quarter valued at about $34,385,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

Bank of Hawaii Price Performance

Bank of Hawaii stock opened at $77.19 on Friday. The company’s 50 day simple moving average is $80.83 and its 200-day simple moving average is $78.29. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 0.88 and a beta of 0.71. Bank of Hawaii Corporation has a 1 year low of $59.36 and a 1 year high of $86.31. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 0.70.

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

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, August 31st. Bank of Hawaii’s payout ratio is currently 52.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays reduced their target price on shares of Bank of Hawaii from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 28th. Benchmark reaffirmed a “hold” rating on shares of Bank of Hawaii in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods lowered their price objective on Bank of Hawaii from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday, August 3rd. Stephens cut Bank of Hawaii from an “overweight” rating to an “equal weight” rating and set a $85.00 target price for the company. in a research note on Thursday, August 6th. Finally, DA Davidson lifted their target price on Bank of Hawaii from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.00.

Insider Activity

In related news, insider Marco A. Abbruzzese sold 2,441 shares of the stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.97% of the company’s stock.

About Bank of Hawaii

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.