Legal & General Group Plc Takes $7.65 Million Position in Bank of Hawaii Corporation $BOH

Legal & General Group Plc acquired a new position in Bank of Hawaii Corporation (NYSE:BOH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 93,824 shares of the bank’s stock, valued at approximately $7,646,000. Legal & General Group Plc owned 0.24% of Bank of Hawaii at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BOH. Royal Bank of Canada boosted its position in Bank of Hawaii by 16.4% in the first quarter. Royal Bank of Canada now owns 26,241 shares of the bank’s stock worth $1,808,000 after purchasing an additional 3,689 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Bank of Hawaii by 177.5% during the 1st quarter. AQR Capital Management LLC now owns 23,818 shares of the bank’s stock valued at $1,617,000 after purchasing an additional 15,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Bank of Hawaii by 4.6% during 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 purchasing an additional 1,027 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Bank of Hawaii by 35.8% in the 1st quarter. Intech Investment Management LLC now owns 19,808 shares of the bank’s stock worth $1,366,000 after purchasing an additional 5,227 shares during the period. Finally, Strs Ohio bought a new position in shares of Bank of Hawaii in the 1st quarter worth approximately $41,000. Institutional investors own 82.18% of the company’s stock.

Bank of Hawaii Trading Down 1.1%

Bank of Hawaii stock opened at $75.07 on Wednesday. The firm has a 50 day moving average of $80.63 and a 200 day moving average of $78.24. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 0.86 and a beta of 0.70. Bank of Hawaii Corporation has a 12-month low of $59.36 and a 12-month high of $86.31. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, July 27th. The bank reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.01. The business had revenue of $196.90 million for the quarter, compared to the consensus estimate of $199.51 million. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. During the same quarter in the previous year, the firm earned $1.06 earnings per share. As a group, research analysts predict that Bank of Hawaii Corporation will post 5.91 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.80 annualized dividend and a yield of 3.7%. Bank of Hawaii’s dividend payout ratio is currently 52.24%.

Insider Transactions at Bank of Hawaii

In other Bank of Hawaii news, insider Marco A. Abbruzzese sold 2,441 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $81.59, for a total value of $199,161.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Bank of Hawaii in a research report on Friday, July 24th. Benchmark reiterated a “hold” rating on shares of Bank of Hawaii in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods cut their price objective on shares of Bank of Hawaii from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday, August 3rd. Barclays reduced their price objective on Bank of Hawaii from $88.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 28th. Finally, DA Davidson raised their target price on Bank of Hawaii from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Bank of Hawaii presently has a consensus rating of “Hold” and a consensus target price of $85.00.

Bank of Hawaii Company Profile

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.