Bank of Hawaii Corporation $BOH Shares Sold by Swedbank AB

Key Points

• Swedbank AB has reduced its stake in Bank of Hawaii Corporation by 9.1%, now owning 500,000 shares valued at approximately $33.77 million.
• Institutional investors hold an impressive 82.18% of the company's stock, with several firms increasing their positions significantly during the last quarter.
• Bank of Hawaii declared a quarterly dividend of $0.70 per share, translating to a 4.2% dividend yield for investors, indicating a strong commitment to returning value to shareholders.

Swedbank AB reduced its position in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 9.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 500,000 shares of the bank's stock after selling 50,000 shares during the quarter. Swedbank AB owned about 1.26% of Bank of Hawaii worth $33,765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc grew its stake in Bank of Hawaii by 80.2% during the 1st quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock worth $27,000 after buying an additional 174 shares during the last quarter. Private Trust Co. NA grew its stake in 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 last quarter. Golden State Wealth Management LLC grew its stake in 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 last quarter. Strs Ohio purchased a new position in Bank of Hawaii during the 1st quarter worth $41,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Bank of Hawaii during the 4th quarter worth $49,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Hawaii Price Performance

NYSE BOH traded up $1.10 during trading hours on Tuesday, reaching $66.73. The company's stock had a trading volume of 35,731 shares, compared to its average volume of 423,088. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 0.86 and a beta of 0.84. Bank of Hawaii Corporation has a 1-year low of $57.44 and a 1-year high of $82.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.70. The company's 50-day moving average is $66.17 and its two-hundred day moving average is $66.76.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings results 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 quarter in the prior year, the firm posted $0.81 EPS. On average, equities analysts predict that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.70 dividend. The ex-dividend date was Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.2%. Bank of Hawaii's dividend payout ratio is 73.49%.

Analyst Ratings Changes

A number of brokerages have commented on BOH. Barclays lifted their price target on Bank of Hawaii from $67.00 to $68.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Piper Sandler began coverage on Bank of Hawaii in a research report on Thursday, August 21st. They set a "neutral" rating and a $71.00 price target for the company. Finally, Stephens lowered their price target 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 equities 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.com, the stock has a consensus rating of "Hold" and an average price target 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.