Principal Financial Group Inc. Sells 8,484 Shares of Bank of Hawaii Co. (NYSE:BOH)

Principal Financial Group Inc. reduced its position in Bank of Hawaii Co. (NYSE:BOH) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 187,267 shares of the bank’s stock after selling 8,484 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Bank of Hawaii worth $11,755,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Bank of Hawaii during the 2nd quarter worth about $106,000. Point72 DIFC Ltd acquired a new position in Bank of Hawaii in the second quarter worth about $119,000. UMB Bank n.a. lifted its stake in Bank of Hawaii by 5,508.3% during the third quarter. UMB Bank n.a. now owns 2,692 shares of the bank’s stock worth $169,000 after purchasing an additional 2,644 shares during the period. Rothschild Investment LLC acquired a new stake in Bank of Hawaii during the second quarter valued at approximately $172,000. Finally, Crestwood Advisors Group LLC bought a new stake in shares of Bank of Hawaii in the 3rd quarter valued at approximately $207,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

Insider Buying and Selling

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the transaction, the insider now directly owns 13,717 shares of the company’s stock, valued at approximately $991,327.59. This trade represents a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.11% of the company’s stock.

Bank of Hawaii Stock Down 1.8 %

Shares of NYSE:BOH opened at $70.39 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. The firm has a market cap of $2.80 billion, a P/E ratio of 21.14, a P/E/G ratio of 4.86 and a beta of 1.03. Bank of Hawaii Co. has a 12 month low of $54.50 and a 12 month high of $82.70. The company’s 50-day moving average price is $74.42 and its two-hundred day moving average price is $67.18.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. The business had revenue of $265.76 million during the quarter, compared to analyst estimates of $160.29 million. During the same quarter last year, the business posted $1.17 earnings per share. As a group, research analysts forecast that Bank of Hawaii Co. will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.98%. The ex-dividend date was Friday, November 29th. Bank of Hawaii’s dividend payout ratio is 84.08%.

Wall Street Analyst Weigh In

BOH has been the subject of several analyst reports. Barclays raised their target price on Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price objective on Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler upped their target price on shares of Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. DA Davidson lifted their price target on shares of Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Stephens assumed coverage on shares of Bank of Hawaii in a research note on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price objective on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of Hawaii has an average rating of “Hold” and a consensus price target of $71.83.

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.