Vanguard Group Inc. Sells 73,770 Shares of Bank of Hawaii Corporation $BOH

Vanguard Group Inc. lowered its stake in shares of Bank of Hawaii Corporation (NYSE:BOH - Free Report) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,544,436 shares of the bank's stock after selling 73,770 shares during the period. Vanguard Group Inc. owned 11.44% of Bank of Hawaii worth $313,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mariner LLC raised its stake in Bank of Hawaii by 1.7% in the 4th quarter. Mariner LLC now owns 9,076 shares of the bank's stock valued at $647,000 after acquiring an additional 154 shares during the period. Wealth Alliance LLC raised its stake in Bank of Hawaii by 5.0% in the 1st quarter. Wealth Alliance LLC now owns 3,270 shares of the bank's stock valued at $226,000 after acquiring an additional 155 shares during the period. Cetera Investment Advisers raised its stake in Bank of Hawaii by 3.7% in the 4th quarter. Cetera Investment Advisers now owns 4,457 shares of the bank's stock valued at $318,000 after acquiring an additional 158 shares during the period. Versant Capital Management Inc raised its stake in Bank of Hawaii by 80.2% in the 1st quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock valued at $27,000 after acquiring an additional 174 shares during the period. Finally, Bank of Montreal Can raised its stake in Bank of Hawaii by 5.9% in the 4th quarter. Bank of Montreal Can now owns 4,592 shares of the bank's stock valued at $327,000 after acquiring an additional 254 shares during the period. Institutional investors own 82.18% of the company's stock.

Bank of Hawaii Trading Down 0.3%

Shares of BOH traded down $0.1650 during mid-day trading on Thursday, reaching $65.4550. 58,857 shares of the company were exchanged, compared to its average volume of 425,489. The stock has a market capitalization of $2.60 billion, a PE ratio of 17.18, a PEG ratio of 0.85 and a beta of 0.80. The business has a 50 day simple moving average of $66.32 and a two-hundred day simple moving average of $67.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.70 and a current ratio of 0.70. Bank of Hawaii Corporation has a 52 week low of $57.44 and a 52 week high of $82.70.

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 for the quarter, topping analysts' consensus estimates of $1.04 by $0.02. The business had revenue of $174.48 million during the quarter, compared to the consensus estimate of $177.82 million. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.During the same period in the previous year, the company posted $0.81 earnings per share. On average, analysts predict 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 announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.70 dividend. The ex-dividend date is Friday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 4.3%. Bank of Hawaii's payout ratio is presently 73.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BOH shares. Piper Sandler started coverage on Bank of Hawaii in a research note on Thursday. They issued a "neutral" rating and a $71.00 price target on the stock. Barclays increased their price target 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. Finally, Stephens decreased their price objective 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. One 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $75.00.

Bank of Hawaii Company 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.