NFJ Investment Group LLC Takes $39.76 Million Position in Bank of Hawaii Corporation $BOH

NFJ Investment Group LLC bought a new stake in Bank of Hawaii Corporation (NYSE:BOH) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 487,887 shares of the bank’s stock, valued at approximately $39,758,000. Bank of Hawaii makes up about 1.3% of NFJ Investment Group LLC’s investment portfolio, making the stock its 23rd biggest holding. NFJ Investment Group LLC owned 1.24% of Bank of Hawaii at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Bank of Hawaii in the 2nd quarter worth about $470,538,000. Vanguard Group Inc. grew its position in Bank of Hawaii by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 4,565,434 shares of the bank’s stock worth $312,139,000 after acquiring an additional 26,821 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Bank of Hawaii by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,106,873 shares of the bank’s stock worth $82,182,000 after acquiring an additional 22,356 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Bank of Hawaii by 122.3% during the third quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank’s stock valued at $66,464,000 after purchasing an additional 557,148 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Bank of Hawaii by 36.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 865,384 shares of the bank’s stock valued at $59,166,000 after purchasing an additional 229,806 shares during the last quarter. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Bank of Hawaii Trading Down 0.3%

NYSE BOH opened at $77.57 on Friday. The stock has a market cap of $3.06 billion, a PE 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’s 50-day moving average price is $80.99 and its 200-day moving average price is $78.28. 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 released its quarterly earnings data on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.01. The company 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 period in the previous year, the company earned $1.06 EPS. Equities research analysts forecast that Bank of Hawaii Corporation will post 5.91 earnings per share 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. Shareholders of record on Monday, August 31st will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, August 31st. Bank of Hawaii’s dividend payout ratio (DPR) is presently 52.24%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BOH. Stephens lowered 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. Benchmark reissued a “hold” rating on shares of Bank of Hawaii in a research note on Tuesday, July 28th. Wall Street Zen lowered shares of Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Keefe, Bruyette & Woods cut 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 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 analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Bank of Hawaii currently has an average rating of “Hold” and an average target price of $85.00.

Insiders Place Their Bets

In other Bank of Hawaii news, insider Marco A. Abbruzzese sold 2,441 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $81.59, for a total value of $199,161.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.97% of the stock is currently owned by company insiders.

Bank of Hawaii Company 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.