Swedbank AB Lowers Stock Holdings 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 trimmed its holdings in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 550,000 shares of the bank's stock after selling 100,000 shares during the quarter. Swedbank AB owned approximately 1.38% of Bank of Hawaii worth $37,934,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Bank of Hawaii by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 197,888 shares of the bank's stock worth $13,648,000 after buying an additional 5,170 shares during the period. Private Trust Co. NA raised its stake in Bank of Hawaii by 18,333.3% in the 1st quarter. Private Trust Co. NA now owns 553 shares of the bank's stock valued at $38,000 after purchasing an additional 550 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Bank of Hawaii by 41.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,625 shares of the bank's stock valued at $802,000 after purchasing an additional 3,433 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Bank of Hawaii by 12.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,691 shares of the bank's stock valued at $806,000 after purchasing an additional 1,291 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Bank of Hawaii by 110.5% in the 1st quarter. Golden State Wealth Management LLC now owns 581 shares of the bank's stock valued at $40,000 after purchasing an additional 305 shares during the last quarter. 82.18% of the stock is owned by institutional investors and hedge funds.

Bank of Hawaii Trading Down 1.3%

NYSE:BOH traded down $0.86 during trading hours on Tuesday, hitting $65.76. The company had a trading volume of 270,019 shares, compared to its average volume of 419,594. The company has a market cap of $2.62 billion, a P/E ratio of 17.26, a P/E/G ratio of 0.88 and a beta of 0.84. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.40. Bank of Hawaii Corporation has a 1 year low of $57.44 and a 1 year high of $82.70. The company has a 50-day moving average of $66.49 and a 200 day moving average of $66.88.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The bank reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.02. Bank of Hawaii had a net margin of 16.30% and a return on equity of 12.67%. The firm had revenue of $174.48 million for the quarter, compared to analyst estimates of $177.82 million. During the same period in the previous year, the firm earned $0.81 EPS. Sell-side analysts expect that Bank of Hawaii Corporation will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.3%. Bank of Hawaii's dividend payout ratio (DPR) is presently 73.49%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler assumed coverage on Bank of Hawaii in a research note on Thursday, August 21st. They issued a "neutral" rating and a $71.00 price objective for the company. Stephens reduced their price objective on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating for the company in a research note on Tuesday, July 29th. Finally, Barclays increased their price objective on Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock 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.