Key Points
- Bank of Hawaii insider Marco Abbruzzese sold 2,000 shares at an average price of $79.84, totaling $159,680 and reducing his direct ownership by 45.03% to 2,441 shares.
- The bank reported quarterly earnings of $1.47 per share, narrowly beating analyst estimates, while revenue of $196.9 million fell short of expectations. It also announced a quarterly dividend of $0.70 per share, representing a 3.5% annualized yield.
- Analysts maintain a consensus “Hold” rating with an average price target of $85.20; institutional investors own 82.18% of the company’s outstanding stock.
Bank of Hawaii Corporation (NYSE:BOH - Get Free Report) insider Marco Abbruzzese sold 2,000 shares of Bank of Hawaii stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $79.84, for a total value of $159,680.00. Following the transaction, the insider directly owned 2,441 shares of the company's stock, valued at approximately $194,889.44. This represents a 45.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Bank of Hawaii Stock Up 0.8%
BOH opened at $80.76 on Wednesday. The business's fifty day moving average is $80.42 and its two-hundred day moving average is $77.76. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 0.91 and a beta of 0.71. Bank of Hawaii Corporation has a one year low of $59.36 and a one year high of $86.31.
Bank of Hawaii (NYSE:BOH - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The bank reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.01. The business had revenue of $196.90 million during the quarter, compared to analysts' expectations of $199.51 million. Bank of Hawaii had a return on equity of 15.72% and a net margin of 21.84%.During the same quarter last year, the business posted $1.06 earnings per share. Analysts anticipate that Bank of Hawaii Corporation will post 5.88 EPS for the current fiscal year.
Bank of Hawaii Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.70 per share. The ex-dividend date is Monday, August 31st. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. Bank of Hawaii's payout ratio is presently 52.24%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Bank of Hawaii by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 4,565,434 shares of the bank's stock worth $312,139,000 after purchasing an additional 26,821 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Bank of Hawaii by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,106,873 shares of the bank's stock valued at $82,182,000 after buying an additional 22,356 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Bank of Hawaii by 122.3% in the third quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank's stock valued at $66,464,000 after buying an additional 557,148 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Bank of Hawaii by 36.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 865,384 shares of the bank's stock valued at $59,166,000 after buying an additional 229,806 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Bank of Hawaii by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,552 shares of the bank's stock valued at $35,043,000 after buying an additional 1,592 shares during the period. 82.18% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on BOH. Benchmark reissued a "hold" rating on shares of Bank of Hawaii in a research note on Tuesday, July 28th. Wall Street Zen lowered Bank of Hawaii from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Keefe, Bruyette & Woods lowered their target price on Bank of Hawaii from $95.00 to $92.00 and set an "outperform" rating on the stock in a report on Monday. DA Davidson raised their price target on Bank of Hawaii from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Finally, Barclays dropped their price target on Bank of Hawaii from $88.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $85.20.
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About Bank of Hawaii
(
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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.
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