6.5% Stake of Bank of Hawaii Co. (BOH) Held by Neuberger Berman Group LLC
Neuberger Berman Group LLC
stated that they own a 6.5% stake in Bank of Hawaii Co. (NYSE:BOH) in a Form 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Thursday, February 15th. The investor owns 2,748,020 shares of the stock worth about $232,949,655. The reporting parties listed on the disclosure included Neuberger Berman Group LLC, Neuberger Berman Investment Advisers LLC and Neuberger Berman Equity Funds. The disclosure is available through Edgar at this hyperlink.
provided the following explanation of their ownership:
A number of other hedge funds have also bought and sold shares of BOH. Quantbot Technologies LP purchased a new position in shares of Bank of Hawaii during the 3rd quarter valued at $117,000. Tower Research Capital LLC TRC purchased a new position in shares of Bank of Hawaii during the 4th quarter valued at $144,000. Rocky Mountain Advisers LLC lifted its position in shares of Bank of Hawaii by 13,300.0% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,010 shares of the bank’s stock valued at $168,000 after buying an additional 1,995 shares during the last quarter. Weil Company Inc. purchased a new position in shares of Bank of Hawaii during the 4th quarter valued at $202,000. Finally, Magnetar Financial LLC purchased a new position in shares of Bank of Hawaii during the 3rd quarter valued at $203,000. 77.21% of the stock is currently owned by institutional investors and hedge funds.
Bank of Hawaii Co. (NYSE BOH) traded up $0.31 during trading hours on Thursday, hitting $84.77. The company had a trading volume of 8,523 shares, compared to its average volume of 248,134. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 0.66. Bank of Hawaii Co. has a 12 month low of $74.72 and a 12 month high of $89.09. The company has a market cap of $3,493.46, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 1.87 and a beta of 0.85.
Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, January 22nd. The bank reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.08). Bank of Hawaii had a net margin of 26.80% and a return on equity of 15.48%. The company had revenue of $160.63 million for the quarter, compared to the consensus estimate of $162.90 million. During the same quarter in the previous year, the firm posted $1.02 earnings per share. sell-side analysts predict that Bank of Hawaii Co. will post 5.19 EPS for the current fiscal year.
Bank of Hawaii announced that its board has initiated a share repurchase plan on Monday, October 23rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.45%. Bank of Hawaii’s payout ratio is 47.93%.
BOH has been the topic of a number of recent research reports. Compass Point raised Bank of Hawaii from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Zacks Investment Research raised Bank of Hawaii from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research report on Wednesday, January 10th. Barclays upped their price target on Bank of Hawaii from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $92.00 price target on shares of Bank of Hawaii in a research report on Friday, December 22nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $90.50 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $91.92.
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Bank of Hawaii Company Profile
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 products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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