Principal Financial Group Inc. Buys 5,170 Shares of Bank of Hawaii Corporation (NYSE:BOH)

Principal Financial Group Inc. lifted its stake in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 197,888 shares of the bank's stock after buying an additional 5,170 shares during the quarter. Principal Financial Group Inc. owned about 0.50% of Bank of Hawaii worth $13,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Teacher Retirement System of Texas acquired a new stake in shares of Bank of Hawaii during the 1st quarter worth approximately $459,000. Private Trust Co. NA grew its position in shares of Bank of Hawaii by 18,333.3% during the 1st quarter. Private Trust Co. NA now owns 553 shares of the bank's stock worth $38,000 after buying an additional 550 shares during the period. DAVENPORT & Co LLC grew its position in shares of Bank of Hawaii by 14.4% during the 1st quarter. DAVENPORT & Co LLC now owns 21,355 shares of the bank's stock worth $1,473,000 after buying an additional 2,692 shares during the period. Golden State Wealth Management LLC grew its position in shares of Bank of Hawaii by 110.5% during the 1st quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock worth $40,000 after buying an additional 305 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Bank of Hawaii by 12.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,691 shares of the bank's stock worth $806,000 after buying an additional 1,291 shares during the period. Institutional investors and hedge funds own 82.18% of the company's stock.

Bank of Hawaii Stock Up 0.1%

BOH traded up $0.09 during trading on Wednesday, hitting $67.07. 280,882 shares of the company's stock were exchanged, compared to its average volume of 382,064. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.41. The business's 50 day moving average is $67.90 and its two-hundred day moving average is $68.74. Bank of Hawaii Corporation has a fifty-two week low of $57.45 and a fifty-two week high of $82.70. The stock has a market cap of $2.66 billion, a P/E ratio of 18.84, a PEG ratio of 1.12 and a beta of 0.77.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The bank reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. Bank of Hawaii had a net margin of 15.12% and a return on equity of 12.16%. The firm had revenue of $169.87 million for the quarter, compared to the consensus estimate of $168.65 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. As a group, equities analysts expect that Bank of Hawaii Corporation will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, May 30th. Bank of Hawaii's dividend payout ratio (DPR) is currently 78.65%.

Insiders Place Their Bets

In other Bank of Hawaii news, insider Taryn L. Salmon sold 1,652 shares of Bank of Hawaii stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $66.15, for a total transaction of $109,279.80. Following the completion of the transaction, the insider owned 6,442 shares of the company's stock, valued at $426,138.30. The trade was a 20.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.07% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their price objective on shares of Bank of Hawaii from $67.00 to $68.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $77.20.

Bank of Hawaii Profile

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.