Bank of Hawaii (NYSE:BOH) Announces Earnings Results

Bank of Hawaii (NYSE:BOH) released its quarterly earnings results on Monday. The bank reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02, Zacks reports. Bank of Hawaii had a net margin of 15.12% and a return on equity of 12.16%.

Bank of Hawaii Trading Down 0.5%

Shares of NYSE BOH opened at $65.65 on Monday. The company’s fifty day moving average is $67.55 and its 200-day moving average is $68.53. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.06 and a beta of 0.77. Bank of Hawaii has a twelve month low of $57.44 and a twelve month high of $82.70. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.41.

Bank of Hawaii Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.27%. Bank of Hawaii’s dividend payout ratio is 78.65%.

Analyst Ratings Changes

Separately, Barclays increased their target price on shares of Bank of Hawaii from $67.00 to $68.00 and gave the company an “underweight” rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $77.20.

Hedge Funds Weigh In On Bank of Hawaii

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Bank of Hawaii by 16.4% in the 1st quarter. Royal Bank of Canada now owns 26,241 shares of the bank’s stock valued at $1,808,000 after acquiring an additional 3,689 shares in the last quarter. AQR Capital Management LLC lifted its position in Bank of Hawaii by 177.5% in the 1st quarter. AQR Capital Management LLC now owns 23,818 shares of the bank’s stock valued at $1,617,000 after acquiring an additional 15,234 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Bank of Hawaii by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank’s stock valued at $1,605,000 after acquiring an additional 1,027 shares in the last quarter. Intech Investment Management LLC lifted its position in Bank of Hawaii by 35.8% in the 1st quarter. Intech Investment Management LLC now owns 19,808 shares of the bank’s stock valued at $1,366,000 after acquiring an additional 5,227 shares in the last quarter. Finally, Strs Ohio bought a new stake in Bank of Hawaii in the 1st quarter valued at $41,000. 82.18% of the stock is owned by institutional investors.

About Bank of Hawaii

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, overdraft lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, as well as high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.