State Street Corp Purchases 294,607 Shares of Bank of Hawaii Corporation (NYSE:BOH)

State Street Corp increased its stake in Bank of Hawaii Corporation (NYSE:BOH) by 17.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,994,913 shares of the bank’s stock after buying an additional 294,607 shares during the period. State Street Corp owned approximately 4.67% of Bank of Hawaii Corporation worth $164,305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BOH. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bank of Hawaii Corporation by 30.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,526 shares of the bank’s stock valued at $126,000 after buying an additional 355 shares during the period. Creative Planning raised its position in shares of Bank of Hawaii Corporation by 4.2% in the first quarter. Creative Planning now owns 1,628 shares of the bank’s stock valued at $134,000 after buying an additional 65 shares during the period. Crestwood Advisors Group LLC raised its position in shares of Bank of Hawaii Corporation by 0.6% in the first quarter. Crestwood Advisors Group LLC now owns 2,469 shares of the bank’s stock valued at $203,000 after buying an additional 15 shares during the period. United Capital Financial Advisers LLC bought a new position in shares of Bank of Hawaii Corporation during the fourth quarter valued at approximately $208,000. Finally, World Asset Management Inc raised its position in shares of Bank of Hawaii Corporation by 0.7% in the first quarter. World Asset Management Inc now owns 2,624 shares of the bank’s stock valued at $216,000 after buying an additional 18 shares during the period. Institutional investors and hedge funds own 77.78% of the company’s stock.

Bank of Hawaii Corporation (NYSE:BOH) traded down 0.65% during trading on Friday, hitting $83.00. 104,307 shares of the company were exchanged. Bank of Hawaii Corporation has a 1-year low of $66.38 and a 1-year high of $90.80. The firm’s 50 day moving average price is $82.43 and its 200-day moving average price is $82.60. The stock has a market capitalization of $3.54 billion, a PE ratio of 19.40 and a beta of 0.95.

Bank of Hawaii Corporation (NYSE:BOH) last issued its quarterly earnings results on Monday, July 24th. The bank reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. Bank of Hawaii Corporation had a net margin of 27.28% and a return on equity of 15.45%. The company had revenue of $157.52 million for the quarter, compared to the consensus estimate of $157.76 million. During the same quarter in the prior year, the company earned $1.03 EPS. Equities analysts predict that Bank of Hawaii Corporation will post $4.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Tuesday, August 29th. This is an increase from Bank of Hawaii Corporation’s previous quarterly dividend of $0.50. Bank of Hawaii Corporation’s dividend payout ratio is 46.62%.

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Several brokerages have commented on BOH. Zacks Investment Research lowered shares of Bank of Hawaii Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. BidaskClub lowered shares of Bank of Hawaii Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Barclays PLC reiterated an “equal weight” rating and issued a $83.00 price target (up from $81.00) on shares of Bank of Hawaii Corporation in a research note on Wednesday, July 12th. Finally, Morgan Stanley increased their price target on shares of Bank of Hawaii Corporation from $74.00 to $75.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $83.50.

In other news, CEO Peter S. Ho sold 3,000 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $83.28, for a total transaction of $249,840.00. Following the transaction, the chief executive officer now owns 160,386 shares in the company, valued at approximately $13,356,946.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Peter S. Ho sold 10,000 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $82.42, for a total value of $824,200.00. Following the transaction, the chief executive officer now owns 183,386 shares in the company, valued at approximately $15,114,674.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,000 shares of company stock worth $2,306,590. 2.16% of the stock is owned by corporate insiders.

Bank of Hawaii Corporation Company Profile

Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.

Institutional Ownership by Quarter for Bank of Hawaii Corporation (NYSE:BOH)

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