Marco Abbruzzese Sells 2,000 Shares of Bank of Hawaii (NYSE:BOH) Stock

Key Points

• Insider sale: Marco Abbruzzese sold 2,000 Bank of Hawaii shares for $159,680 at an average price of $79.84, reducing his direct stake by 45.03% to 2,441 shares.
• Quarterly performance: Bank of Hawaii reported earnings of $1.47 per share, slightly above estimates, while revenue of $196.9 million fell short of expectations. The stock recently traded at $81.20, up 1.3%.
• Dividend and outlook: The bank declared a quarterly dividend of $0.70 per share, representing a 3.4% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $85.20.

Bank of Hawaii Corporation (NYSE:BOH - Get Free Report) insider Marco Abbruzzese sold 2,000 shares of Bank of Hawaii stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $79.84, for a total value of $159,680.00. Following the transaction, the insider directly owned 2,441 shares in the company, valued at approximately $194,889.44. The trade was a 45.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Bank of Hawaii Stock Up 1.3%

NYSE BOH traded up $1.05 on Tuesday, reaching $81.20. The company had a trading volume of 181,717 shares, compared to its average volume of 419,789. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. The company's fifty day moving average is $80.37 and its 200 day moving average is $77.69. Bank of Hawaii Corporation has a 52-week low of $59.36 and a 52-week high of $86.31. The stock has a market capitalization of $3.20 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.91 and a beta of 0.71.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.01. The firm had revenue of $196.90 million for the quarter, compared to the consensus estimate of $199.51 million. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. During the same period in the previous year, the firm earned $1.06 EPS. Sell-side analysts anticipate that Bank of Hawaii Corporation will post 5.88 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, August 31st. This represents a $2.80 annualized dividend and a yield of 3.4%. Bank of Hawaii's payout ratio is 52.24%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Danske Bank A S bought a new stake in shares of Bank of Hawaii in the 4th quarter worth approximately $27,000. Western Wealth Management LLC purchased a new position in Bank of Hawaii in the first quarter valued at approximately $33,000. SHP Wealth Management bought a new position in Bank of Hawaii during the fourth quarter valued at $34,000. Quarry LP grew its holdings in Bank of Hawaii by 1,497.2% during the third quarter. Quarry LP now owns 575 shares of the bank's stock valued at $38,000 after purchasing an additional 539 shares during the period. Finally, Strs Ohio purchased a new stake in Bank of Hawaii in the first quarter worth $41,000. 82.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Bank of Hawaii from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Monday. Zacks Research lowered Bank of Hawaii from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Wall Street Zen downgraded Bank of Hawaii from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bank of Hawaii in a report on Friday, July 24th. Finally, DA Davidson boosted their price objective on Bank of Hawaii from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Bank of Hawaii currently has a consensus rating of "Hold" and an average price target of $85.20.

Bank of Hawaii Company Profile

Bank of Hawaii NYSE: BOH is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.

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