Advisor Consultant Network Inc. Invests $11,450,000 in Bank of Hawaii Corp. (BOH)
Advisor Consultant Network Inc. acquired a new position in shares of Bank of Hawaii Corp. (NYSE:BOH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 157,671 shares of the company’s stock, valued at approximately $11,450,000. Bank of Hawaii Corp. comprises approximately 1.6% of Advisor Consultant Network Inc.’s investment portfolio, making the stock its 16th largest position. Advisor Consultant Network Inc. owned approximately 0.37% of Bank of Hawaii Corp. at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can bought a new position in shares of Bank of Hawaii Corp. during the second quarter worth about $3,077,000. Parametrica Management Ltd acquired a new position in Bank of Hawaii Corp. during the second quarter worth approximately $489,000. Country Club Trust Company n.a. boosted its position in Bank of Hawaii Corp. by 2.2% in the second quarter. Country Club Trust Company n.a. now owns 154,406 shares of the company’s stock worth $10,623,000 after buying an additional 3,350 shares in the last quarter. LS Investment Advisors LLC boosted its position in Bank of Hawaii Corp. by 74.7% in the second quarter. LS Investment Advisors LLC now owns 2,579 shares of the company’s stock worth $177,000 after buying an additional 1,103 shares in the last quarter. Finally, First American Bank boosted its position in Bank of Hawaii Corp. by 0.8% in the second quarter. First American Bank now owns 50,129 shares of the company’s stock worth $3,449,000 after buying an additional 413 shares in the last quarter. Institutional investors own 78.53% of the company’s stock.
Shares of Bank of Hawaii Corp. (NYSE:BOH) traded down 0.0309% during mid-day trading on Wednesday, hitting $83.0943. The stock had a trading volume of 86,916 shares. Bank of Hawaii Corp. has a one year low of $54.55 and a one year high of $88.43. The stock has a market cap of $3.55 billion, a P/E ratio of 19.7844 and a beta of 0.87. The firm has a 50 day moving average of $78.10 and a 200-day moving average of $72.11.
Bank of Hawaii Corp. (NYSE:BOH) last posted its earnings results on Monday, October 24th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.99 by $0.03. Bank of Hawaii Corp. had a return on equity of 15.80% and a net margin of 27.91%. During the same quarter last year, the business earned $0.79 EPS. Equities research analysts expect that Bank of Hawaii Corp. will post $4.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Monday, November 28th. Bank of Hawaii Corp.’s dividend payout ratio (DPR) is 45.71%.
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BOH has been the topic of a number of research analyst reports. Zacks Investment Research raised Bank of Hawaii Corp. from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Monday, October 10th. Barclays PLC boosted their price target on Bank of Hawaii Corp. from $71.00 to $73.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 25th. Finally, Compass Point initiated coverage on Bank of Hawaii Corp. in a report on Thursday, August 11th. They issued a “neutral” rating and a $69.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of $72.13.
In related news, Director Barbara J. Tanabe sold 3,550 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $73.88, for a total transaction of $262,274.00. Following the sale, the director now directly owns 7,974 shares of the company’s stock, valued at $589,119.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.52% of the company’s stock.
About Bank of Hawaii Corp.
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 services and products primarily to customers in Hawaii, Guam and other Pacific Islands. The Company operates through four business segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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