Swedbank AB Reduces Stake in Bank of Hawaii Corporation $BOH

Key Points

• Swedbank AB has reduced its ownership in Bank of Hawaii Corporation by 15.4%, selling 100,000 shares and now holds 550,000 shares valued at approximately $37.93 million.
• The bank reported earnings of $1.06 per share in the latest quarter, exceeding analyst expectations, although its revenue fell short of predictions at $174.48 million.
• Bank of Hawaii declared a quarterly dividend of $0.70 per share, representing an annualized yield of 4.1%.

Swedbank AB lowered its stake in Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 15.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 550,000 shares of the bank's stock after selling 100,000 shares during the quarter. Swedbank AB owned 1.38% of Bank of Hawaii worth $37,934,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of Bank of Hawaii by 80.2% during the 1st quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock valued at $27,000 after buying an additional 174 shares during the period. Private Trust Co. NA boosted its stake in shares of Bank of Hawaii by 18,333.3% in 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 boosted its stake in shares of Bank of Hawaii by 110.5% in 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 shares of Bank of Hawaii in the 1st quarter worth $41,000. Finally, Public Employees Retirement System of Ohio bought a new position in Bank of Hawaii in the 4th quarter worth $49,000. Institutional investors own 82.18% of the company's stock.

Bank of Hawaii Price Performance

Shares of BOH stock traded up $0.78 during trading hours on Thursday, hitting $67.71. The stock had a trading volume of 197,924 shares, compared to its average volume of 417,809. Bank of Hawaii Corporation has a one year low of $57.44 and a one 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 stock's 50-day moving average price is $66.33 and its two-hundred day moving average price is $66.87. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.85 and a beta of 0.84.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its earnings results on Monday, July 28th. The bank reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $174.48 million for the quarter, compared to analysts' expectations of $177.82 million. During the same period in the previous year, the firm posted $0.81 earnings per share. Equities analysts forecast that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, August 29th. Bank of Hawaii's payout ratio is 73.49%.

Analyst Upgrades and Downgrades

BOH has been the topic of a number of recent analyst reports. Stephens decreased their price target on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Tuesday, July 29th. Barclays raised their price target on Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Finally, Piper Sandler initiated coverage on Bank of Hawaii in a report on Thursday, August 21st. They set a "neutral" rating and a $71.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company 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.