NFJ Investment Group LLC Makes New Investment in Bank of Hawaii Corporation $BOH

NFJ Investment Group LLC bought a new stake in shares of Bank of Hawaii Corporation (NYSE:BOH) during the 2nd quarter, Holdings Channel.com reports. The fund bought 487,887 shares of the bank’s stock, valued at approximately $39,758,000. Bank of Hawaii comprises approximately 1.3% of NFJ Investment Group LLC’s investment portfolio, making the stock its 23rd largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Danske Bank A S bought a new position in shares of Bank of Hawaii in the 4th quarter worth $27,000. Western Wealth Management LLC purchased a new position in Bank of Hawaii in the first quarter valued at about $33,000. SHP Wealth Management purchased a new position in Bank of Hawaii in the fourth quarter valued at about $34,000. Global Retirement Partners LLC purchased a new position in Bank of Hawaii in the second quarter valued at about $34,000. Finally, Quarry LP raised its holdings in Bank of Hawaii by 1,497.2% in the third quarter. Quarry LP now owns 575 shares of the bank’s stock worth $38,000 after purchasing an additional 539 shares in the last quarter. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BOH has been the topic of a number of recent analyst reports. Stephens cut 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 report on Thursday, August 6th. Barclays lowered their target price on shares of Bank of Hawaii from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 28th. DA Davidson upped their price target on Bank of Hawaii from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Benchmark reissued a “hold” rating on shares of Bank of Hawaii in a research report on Tuesday, July 28th. Finally, Wall Street Zen downgraded Bank of Hawaii from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.00.

Insider Activity at Bank of Hawaii

In related news, insider Marco A. Abbruzzese sold 2,441 shares of Bank of Hawaii 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 1.97% of the stock is owned by company insiders.

Bank of Hawaii Trading Down 0.3%

Shares of Bank of Hawaii stock opened at $77.57 on Friday. The firm’s 50 day simple moving average is $80.99 and its two-hundred day simple moving average is $78.28. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 0.88 and a beta of 0.71. Bank of Hawaii Corporation has a 12-month low of $59.36 and a 12-month high of $86.31. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, July 27th. The bank reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.01. The firm had revenue of $196.90 million for the quarter, compared to analyst estimates 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 period in the previous year, the company earned $1.06 earnings per share. Analysts predict that Bank of Hawaii Corporation will post 5.91 EPS for the current year.

Bank of Hawaii Announces Dividend

The company also recently disclosed 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. 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 dividend payout ratio (DPR) is presently 52.24%.

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.