The Manufacturers Life Insurance Company Purchases New Stake in Bank of Hawaii Corporation $BOH

The Manufacturers Life Insurance Company purchased a new stake in Bank of Hawaii Corporation (NYSE:BOH) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 18,321 shares of the bank’s stock, valued at approximately $1,493,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Marble Harbor Investment Counsel LLC grew its holdings in Bank of Hawaii by 14.3% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 112,199 shares of the bank’s stock valued at $7,671,000 after buying an additional 14,075 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Bank of Hawaii by 0.6% during the 4th 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 during the period. AlphaQuest LLC boosted its position in shares of Bank of Hawaii by 229.6% during the 4th quarter. AlphaQuest LLC now owns 20,293 shares of the bank’s stock valued at $1,387,000 after acquiring an additional 14,136 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Bank of Hawaii during the 2nd quarter valued at about $5,111,000. Finally, California State Teachers Retirement System grew its holdings in shares of Bank of Hawaii by 37.3% in the first quarter. California State Teachers Retirement System now owns 51,059 shares of the bank’s stock valued at $3,791,000 after purchasing an additional 13,864 shares during the period. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Insider Buying and Selling at Bank of Hawaii

In other news, insider Marco Abbruzzese sold 2,441 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $81.59, for a total value of $199,161.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.97% of the stock is currently owned by corporate insiders.

Bank of Hawaii Stock Performance

Shares of Bank of Hawaii stock opened at $76.67 on Friday. The firm has a market cap of $3.02 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.87 and a beta of 0.70. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. Bank of Hawaii Corporation has a 52 week low of $59.36 and a 52 week high of $86.31. The business’s fifty day simple moving average is $80.43 and its 200-day simple moving average is $78.23.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.01. The firm had revenue of $196.90 million during the quarter, compared to the consensus estimate of $199.51 million. Bank of Hawaii had a return on equity of 15.72% and a net margin of 21.84%.During the same period last year, the company earned $1.06 EPS. Equities analysts forecast that Bank of Hawaii Corporation will post 5.91 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.70 per share. The ex-dividend date is Monday, August 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.7%. Bank of Hawaii’s dividend payout ratio (DPR) is currently 52.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BOH shares. DA Davidson raised their price objective on shares of 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 reiterated a “hold” rating on shares of Bank of Hawaii in a report on Tuesday, July 28th. Stephens cut 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 research note on Thursday, August 6th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Hawaii in a report on Friday, July 24th. Finally, Barclays reduced their price target on shares of Bank of Hawaii from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.00.

About Bank of Hawaii

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.