Vestmark Advisory Solutions Inc. Boosts Holdings in Bank of Hawaii Corporation $BOH

Vestmark Advisory Solutions Inc. lifted its holdings in Bank of Hawaii Corporation (NYSE:BOH) by 133.9% in the second quarter, HoldingsChannel reports. The firm owned 22,473 shares of the bank’s stock after buying an additional 12,863 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Bank of Hawaii were worth $1,518,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Alliance LLC boosted its position in Bank of Hawaii by 5.0% in the 1st quarter. Wealth Alliance LLC now owns 3,270 shares of the bank’s stock valued at $226,000 after buying an additional 155 shares during the period. Comerica Bank raised its stake in shares of Bank of Hawaii by 1.0% in the first quarter. Comerica Bank now owns 18,581 shares of the bank’s stock valued at $1,282,000 after acquiring an additional 185 shares in the last quarter. Atria Investments Inc boosted its holdings in Bank of Hawaii by 6.1% in the second quarter. Atria Investments Inc now owns 6,297 shares of the bank’s stock valued at $425,000 after purchasing an additional 362 shares during the period. Cetera Investment Advisers boosted its holdings in Bank of Hawaii by 8.7% in the first quarter. Cetera Investment Advisers now owns 4,843 shares of the bank’s stock valued at $334,000 after purchasing an additional 386 shares during the period. Finally, CWM LLC grew its stake in Bank of Hawaii by 31.9% during the 1st quarter. CWM LLC now owns 1,643 shares of the bank’s stock worth $113,000 after purchasing an additional 397 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Bank of Hawaii Trading Up 1.5%

Shares of Bank of Hawaii stock opened at $65.60 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $65.28 and a 200-day simple moving average of $66.36. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 0.76 and a beta of 0.88. Bank of Hawaii Corporation has a 12-month low of $57.44 and a 12-month high of $82.70.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Monday, October 27th. The bank reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Bank of Hawaii had a net margin of 17.41% and a return on equity of 13.33%. The firm had revenue of $182.64 million during the quarter, compared to analysts’ expectations of $180.95 million. During the same period in the previous year, the company earned $0.93 earnings per share. On average, equities analysts forecast that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, November 28th. Bank of Hawaii’s dividend payout ratio (DPR) is currently 68.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stephens reduced their price target on Bank of Hawaii from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bank of Hawaii in a report on Wednesday, October 8th. Piper Sandler initiated coverage on shares of Bank of Hawaii in a research note on Thursday, August 21st. They issued a “neutral” rating and a $71.00 price target for the company. Barclays increased their price objective on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Tuesday, October 28th. Finally, DA Davidson restated a “neutral” rating and issued a $70.00 price objective on shares of Bank of Hawaii in a report on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.20.

About Bank of Hawaii

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, overdraft lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, as well as high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.