Jefferies Financial Group Inc. Grows Stake in Bank of Hawaii Corporation $BOH

Jefferies Financial Group Inc. boosted its position in shares of Bank of Hawaii Corporation (NYSE:BOH) by 157.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,283 shares of the bank’s stock after acquiring an additional 16,665 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Bank of Hawaii were worth $1,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BOH. Federated Hermes Inc. grew its position in Bank of Hawaii by 1,736.0% during the third quarter. Federated Hermes Inc. now owns 35,380 shares of the bank’s stock valued at $2,322,000 after buying an additional 33,453 shares during the period. Peterson Wealth Services raised its position in Bank of Hawaii by 4,266.5% in the third quarter. Peterson Wealth Services now owns 17,466 shares of the bank’s stock worth $1,146,000 after acquiring an additional 17,066 shares during the period. Public Sector Pension Investment Board raised its position in Bank of Hawaii by 14.6% in the third quarter. Public Sector Pension Investment Board now owns 155,147 shares of the bank’s stock worth $10,184,000 after acquiring an additional 19,815 shares during the period. Capital Fund Management S.A. purchased a new position in shares of Bank of Hawaii during the 2nd quarter worth $2,238,000. Finally, Bleakley Financial Group LLC purchased a new position in shares of Bank of Hawaii during the 3rd quarter worth $684,000. 82.18% of the stock is owned by hedge funds and other institutional investors.

Bank of Hawaii Stock Performance

Shares of NYSE BOH opened at $73.87 on Thursday. The stock has a market cap of $2.93 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 0.75 and a beta of 0.73. Bank of Hawaii Corporation has a 1 year low of $57.44 and a 1 year high of $80.61. The firm has a fifty day moving average price of $74.79 and a 200-day moving average price of $69.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, January 26th. The bank reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. The company had revenue of $189.65 million for the quarter, compared to analysts’ expectations of $184.83 million. Bank of Hawaii had a net margin of 19.30% and a return on equity of 14.42%. During the same quarter in the previous year, the company earned $0.85 EPS. Equities analysts anticipate that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, February 27th. Bank of Hawaii’s payout ratio is presently 60.61%.

Insider Buying and Selling at Bank of Hawaii

In other news, CEO Peter S. Ho sold 15,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.87, for a total value of $1,018,050.00. Following the completion of the transaction, the chief executive officer owned 156,774 shares of the company’s stock, valued at $10,640,251.38. This represents a 8.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BOH has been the subject of several analyst reports. Keefe, Bruyette & Woods upgraded Bank of Hawaii from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $75.00 to $91.00 in a research note on Tuesday, January 27th. Wall Street Zen upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. DA Davidson boosted their price target on Bank of Hawaii from $73.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, January 27th. Barclays upped their price target on Bank of Hawaii from $75.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 27th. Finally, Zacks Research raised Bank of Hawaii from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.80.

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.