Jefferies Financial Group Inc. has acquired a new stake in Bank of Hawaii Corporation (NYSE:BOH), purchasing approximately 10,618 shares valued at around $717,000. This investment occurred during the second quarter of 2023, according to Holdings Channel. The move reflects growing interest from institutional investors in the bank’s performance.
Several other financial institutions have also adjusted their positions in Bank of Hawaii recently. For instance, Comerica Bank increased its stake by 1.0% in the first quarter, now holding 18,581 shares worth $1,282,000 after acquiring an additional 185 shares. Wealth Alliance LLC raised its holdings by 10.2%, bringing its total to 3,605 shares valued at $243,000. Atria Investments Inc. boosted its position by 6.1%, now owning 6,297 shares worth $425,000. Rhumbline Advisers also increased its holdings by 0.4%, with 111,265 shares valued at $7,514,000. Collectively, hedge funds and institutional investors own 82.18% of Bank of Hawaii’s stock.
Analysts’ Perspectives on Bank of Hawaii
Recent comments from equity analysts indicate a cautious outlook on Bank of Hawaii. Piper Sandler initiated coverage with a “neutral” rating and set a price target of $71.00. Barclays adjusted its target price from $66.00 to $68.00, assigning an “underweight” rating. DA Davidson reaffirmed a “neutral” rating with a target of $70.00. Weiss Ratings maintained a “hold (c)” rating, while Wall Street Zen upgraded its position from “sell” to “hold.” Currently, one analyst rates the stock as a Buy, four as Hold, and one as Sell, leading to a consensus rating of “Hold” with an average target price of $73.20.
Stock Performance and Financial Overview
As of the latest trading session, shares of Bank of Hawaii opened at $66.49. The bank, which has a market capitalization of $2.65 billion, reports a price-to-earnings (P/E) ratio of 16.30 and a price-to-earnings-growth (PEG) ratio of 0.76. Its beta stands at 0.88, indicating lower volatility compared to the market. The bank’s liquidity ratios include a quick ratio of 0.70 and a current ratio of 0.70, with a debt-to-equity ratio of 0.39. Over the past year, Bank of Hawaii’s stock has fluctuated between a low of $57.44 and a high of $81.42.
On October 28, Bank of Hawaii reported its quarterly earnings, revealing earnings per share (EPS) of $1.20, surpassing analysts’ expectations of $1.13 by $0.07. The bank’s revenue for the quarter reached $182.64 million, exceeding the forecast of $180.95 million. The net margin was reported at 17.41%, with a return on equity of 13.33%. For the current fiscal year, analysts project an EPS of $3.97.
In addition to its strong earnings report, Bank of Hawaii announced a quarterly dividend of $0.70 per share, set to be paid on December 12, 2023. This dividend will be available to investors of record as of November 28, 2023, representing an annualized dividend of $2.80 and a yield of 4.2%. The bank’s current dividend payout ratio stands at 68.63%.
Bank of Hawaii Corporation functions as a bank holding company that offers a range of financial services in Hawaii, Guam, and other Pacific Islands. Its operations are divided into three segments: Consumer Banking, Commercial Banking, and Treasury and Other, encompassing a variety of financial products, including mortgages, loans, and investment services.
For more information on current holdings and institutional investments in Bank of Hawaii, visit HoldingsChannel.com for the latest updates and insider trades.
