Bank of Hawaii Co. (NYSE:BOH) Shares Sold by Swedbank AB

Swedbank AB trimmed its position in shares of Bank of Hawaii Co. (NYSE:BOH) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 700,000 shares of the bank’s stock after selling 25,000 shares during the period. Swedbank AB owned approximately 1.76% of Bank of Hawaii worth $43,939,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund lifted its position in shares of Bank of Hawaii by 0.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 21,787 shares of the bank’s stock worth $1,359,000 after buying an additional 176 shares during the last quarter. Congress Asset Management Co. MA increased its position in shares of Bank of Hawaii by 0.4% in the fourth quarter. Congress Asset Management Co. MA now owns 48,987 shares of the bank’s stock worth $3,550,000 after acquiring an additional 185 shares in the last quarter. Arizona State Retirement System increased its position in shares of Bank of Hawaii by 1.9% in the second quarter. Arizona State Retirement System now owns 11,134 shares of the bank’s stock worth $637,000 after acquiring an additional 210 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Bank of Hawaii by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the bank’s stock worth $1,144,000 after acquiring an additional 300 shares in the last quarter. Finally, Harrington Investments INC increased its position in shares of Bank of Hawaii by 2.0% in the second quarter. Harrington Investments INC now owns 19,706 shares of the bank’s stock worth $1,127,000 after acquiring an additional 394 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors.

Bank of Hawaii Stock Up 0.5 %

BOH opened at $67.07 on Wednesday. Bank of Hawaii Co. has a twelve month low of $45.56 and a twelve month high of $75.19. The firm’s 50-day simple moving average is $64.59 and its 200-day simple moving average is $61.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 7.38 and a beta of 1.05.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, July 22nd. The bank reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $255.62 million during the quarter, compared to the consensus estimate of $157.12 million. Bank of Hawaii had a net margin of 14.54% and a return on equity of 12.25%. During the same period last year, the business posted $1.12 EPS. Equities research analysts anticipate that Bank of Hawaii Co. will post 3.4 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Friday, August 30th. Bank of Hawaii’s dividend payout ratio (DPR) is presently 78.43%.

Insider Activity

In related news, insider Taryn L. Salmon sold 2,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $67.80, for a total value of $160,279.20. Following the sale, the insider now directly owns 10,785 shares in the company, valued at $731,223. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BOH has been the subject of several research reports. Keefe, Bruyette & Woods upgraded shares of Bank of Hawaii from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $60.00 to $67.00 in a report on Wednesday, October 2nd. Jefferies Financial Group upped their price objective on shares of Bank of Hawaii from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. DA Davidson upped their target price on shares of Bank of Hawaii from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Piper Sandler cut shares of Bank of Hawaii from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $70.00 to $61.00 in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $60.40.

About Bank of Hawaii

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, overdraft lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, as well as high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.