Bank of Hawaii Corporation $BOH Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Bank of Hawaii Corporation by 65.5%, owning approximately 542,429 shares valued at $37.41 million following the sale of over a million shares during the first quarter.
• Bank of Hawaii announced a quarterly dividend of $0.70 per share, which will be paid to investors on September 15th, representing an annualized yield of 4.3%.
• Analysts have set a consensus price target of $74.40 for BOH stock, with varying ratings: two analysts rated it as a sell, two as hold, and one as buy.

Charles Schwab Investment Management Inc. lowered its holdings in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 65.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 542,429 shares of the bank's stock after selling 1,029,083 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.37% of Bank of Hawaii worth $37,411,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Bank of Hawaii by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 840,574 shares of the bank's stock valued at $59,884,000 after purchasing an additional 42,719 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Bank of Hawaii in the 4th quarter valued at about $54,309,000. Ameriprise Financial Inc. boosted its position in shares of Bank of Hawaii by 558.1% in the 4th quarter. Ameriprise Financial Inc. now owns 646,890 shares of the bank's stock valued at $46,084,000 after purchasing an additional 548,599 shares during the period. Northern Trust Corp boosted its position in shares of Bank of Hawaii by 9.2% in the 4th quarter. Northern Trust Corp now owns 440,635 shares of the bank's stock valued at $31,391,000 after purchasing an additional 37,078 shares during the period. Finally, Natixis Advisors LLC boosted its position in shares of Bank of Hawaii by 13.0% in the 1st quarter. Natixis Advisors LLC now owns 325,174 shares of the bank's stock valued at $22,427,000 after purchasing an additional 37,413 shares during the period. 82.18% of the stock is owned by institutional investors and hedge funds.

Bank of Hawaii Stock Performance

Bank of Hawaii stock traded up $3.1580 during mid-day trading on Friday, reaching $68.6980. 582,329 shares of the company were exchanged, compared to its average volume of 485,317. Bank of Hawaii Corporation has a twelve month low of $57.44 and a twelve month high of $82.70. The firm's 50-day simple moving average is $66.36 and its two-hundred day simple moving average is $67.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $2.73 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 0.89 and a beta of 0.80.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.02. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.The company had revenue of $174.48 million during the quarter, compared to analysts' expectations of $177.82 million. During the same period last year, the firm earned $0.81 EPS. Equities analysts predict that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, August 29th. Bank of Hawaii's dividend payout ratio (DPR) is presently 73.49%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler assumed coverage on Bank of Hawaii in a research report on Thursday. They issued a "neutral" rating and a $71.00 target price for the company. Barclays upped their target price on Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Finally, Stephens decreased their target price on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating for the company in a research report on Tuesday, July 29th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Bank of Hawaii currently has an average rating of "Hold" and an average target price of $75.00.

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.