Metropolitan Life Insurance Co. NY Boosts Position in Bank of Hawaii Co. (BOH)
Metropolitan Life Insurance Co. NY raised its stake in Bank of Hawaii Co. (NYSE:BOH) by 899.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,174 shares of the bank’s stock after acquiring an additional 10,956 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Bank of Hawaii were worth $1,016,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of BOH. Swiss National Bank boosted its stake in Bank of Hawaii by 2.3% in the first quarter. Swiss National Bank now owns 74,337 shares of the bank’s stock valued at $6,177,000 after acquiring an additional 1,700 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Bank of Hawaii by 4.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 223,187 shares of the bank’s stock valued at $18,547,000 after acquiring an additional 9,292 shares during the period. Natixis Advisors L.P. boosted its stake in Bank of Hawaii by 5.7% in the first quarter. Natixis Advisors L.P. now owns 105,239 shares of the bank’s stock valued at $8,745,000 after acquiring an additional 5,666 shares during the period. JPMorgan Chase & Co. boosted its stake in Bank of Hawaii by 10.9% in the first quarter. JPMorgan Chase & Co. now owns 413,630 shares of the bank’s stock valued at $34,373,000 after acquiring an additional 40,745 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Bank of Hawaii by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,026,178 shares of the bank’s stock valued at $85,275,000 after acquiring an additional 15,764 shares during the period. Institutional investors own 75.03% of the company’s stock.
A number of equities analysts have commented on BOH shares. Zacks Investment Research upgraded Bank of Hawaii from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Thursday, July 12th. ValuEngine upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $89.00 target price on shares of Bank of Hawaii in a research note on Tuesday, July 24th. Finally, Morgan Stanley decreased their target price on Bank of Hawaii from $87.00 to $85.00 and set an “underweight” rating for the company in a research note on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $91.08.
Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, July 23rd. The bank reported $1.30 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.30. The company had revenue of $161.79 million for the quarter, compared to analysts’ expectations of $164.78 million. Bank of Hawaii had a return on equity of 16.26% and a net margin of 28.32%. During the same quarter in the previous year, the company posted $1.05 earnings per share. analysts anticipate that Bank of Hawaii Co. will post 5.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, August 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.94%. Bank of Hawaii’s dividend payout ratio (DPR) is presently 54.42%.
In other news, Director Mary G. F. Bitterman sold 367 shares of Bank of Hawaii stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $81.91, for a total transaction of $30,060.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Barbara J. Tanabe sold 613 shares of Bank of Hawaii stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $83.23, for a total value of $51,019.99. The disclosure for this sale can be found here. Insiders own 2.04% of the company’s stock.
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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