Jupiter Topco LLC Acquires Shares of 17,501 Bank of Hawaii Corporation $BOH

Jupiter Topco LLC acquired a new stake in Bank of Hawaii Corporation (NYSE:BOH) in the second quarter, according to its most recent filing with the SEC. The fund acquired 17,501 shares of the bank’s stock, valued at approximately $1,427,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Bank of Hawaii during the 2nd quarter worth about $470,538,000. Balyasny Asset Management L.P. lifted its holdings in shares of Bank of Hawaii by 122.3% in 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. NFJ Investment Group LLC purchased a new position in Bank of Hawaii during the second quarter valued at approximately $39,758,000. Bank of New York Mellon Corp bought a new stake in Bank of Hawaii during the 2nd quarter worth approximately $37,864,000. Finally, Deprince Race & Zollo Inc. bought a new stake in Bank of Hawaii during the 1st quarter worth approximately $34,385,000. Institutional investors own 82.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on BOH. Stephens downgraded shares of Bank of Hawaii from an “overweight” rating to an “equal weight” rating and set a $85.00 price target for the company. in a report on Thursday, August 6th. Barclays dropped their price objective on 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 target price on Bank of Hawaii from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods reduced their price target on shares of Bank of Hawaii from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday, August 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Hawaii in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Bank of Hawaii currently has an average rating of “Hold” and a consensus target price of $85.00.

Bank of Hawaii Stock Up 0.6%

Shares of NYSE BOH opened at $77.10 on Friday. The firm’s 50-day moving average price is $80.33 and its 200-day moving average price is $78.22. 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 Corporation has a 12-month low of $59.36 and a 12-month high of $86.31. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 0.87 and a beta 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, beating analysts’ consensus estimates of $1.46 by $0.01. The business had revenue of $196.90 million for 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 in the previous year, the business posted $1.06 earnings per share. On average, equities research analysts anticipate that Bank of Hawaii Corporation will post 5.91 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

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

Insider Activity

In other news, insider Marco Abbruzzese sold 2,441 shares of Bank of Hawaii stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $81.59, for a total value of $199,161.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.97% of the stock is currently owned by insiders.

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.