Bank of Hawaii (NYSE:BOH) Insider Sells 2,441 Shares of Stock

Key Points

• Insider sale: Marco Abbruzzese sold 2,441 Bank of Hawaii shares at an average price of $81.59, generating approximately $199,161 in proceeds.
• Quarterly performance: Bank of Hawaii reported quarterly EPS of $1.47, narrowly exceeding the $1.46 consensus estimate, while revenue of $196.9 million fell short of expectations.
• Dividend and outlook: The bank declared a quarterly dividend of $0.70 per share, representing a 3.5% yield. Analysts have a consensus “Hold” rating and an average price target of $85.20.

Bank of Hawaii Corporation (NYSE:BOH - Get Free Report) insider Marco Abbruzzese sold 2,441 shares of Bank of Hawaii stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $81.59, for a total transaction of $199,161.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Bank of Hawaii Price Performance

Shares of NYSE BOH traded up $0.61 during mid-day trading on Tuesday, hitting $80.76. 354,934 shares of the company's stock traded hands, compared to its average volume of 494,252. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.70. Bank of Hawaii Corporation has a 1 year low of $59.36 and a 1 year high of $86.31. The company's 50-day moving average is $80.42 and its two-hundred day moving average is $77.76. The company has a market capitalization of $3.19 billion, a P/E ratio of 15.07, a PEG ratio of 0.91 and a beta of 0.71.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The bank reported $1.47 EPS for the quarter, topping the consensus estimate of $1.46 by $0.01. Bank of Hawaii had a return on equity of 15.72% and a net margin of 21.84%.The company had revenue of $196.90 million during the quarter, compared to analyst estimates of $199.51 million. During the same quarter last year, the business posted $1.06 earnings per share. On average, equities analysts anticipate that Bank of Hawaii Corporation will post 5.88 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.80 annualized dividend and a dividend yield of 3.5%. Bank of Hawaii's payout ratio is currently 52.24%.

Institutional Trading of Bank of Hawaii

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in Bank of Hawaii by 16.4% during the 1st quarter. Royal Bank of Canada now owns 26,241 shares of the bank's stock valued at $1,808,000 after buying an additional 3,689 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Bank of Hawaii by 177.5% during the first quarter. AQR Capital Management LLC now owns 23,818 shares of the bank's stock valued at $1,617,000 after acquiring an additional 15,234 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Bank of Hawaii by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank's stock valued at $1,605,000 after acquiring an additional 1,027 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Bank of Hawaii by 35.8% in the first quarter. Intech Investment Management LLC now owns 19,808 shares of the bank's stock valued at $1,366,000 after purchasing an additional 5,227 shares during the period. Finally, Strs Ohio bought a new position in Bank of Hawaii in the first quarter worth approximately $41,000. 82.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stephens raised their price target on Bank of Hawaii from $82.00 to $86.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. DA Davidson increased their target price on shares of Bank of Hawaii from $80.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Wall Street Zen lowered shares of Bank of Hawaii from a "hold" rating to a "sell" rating in a report on Saturday, April 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank of Hawaii in a research note on Friday, July 24th. Finally, Zacks Research downgraded shares of Bank of Hawaii from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $85.20.

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.

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