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

Principal Financial Group Inc. lowered its holdings in shares of Bank of Hawaii Co. (NYSE:BOH) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing 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 0.47% of Bank of Hawaii worth $11,755,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Swedbank AB acquired a new position in Bank of Hawaii in the 1st quarter worth $43,673,000. Victory Capital Management Inc. boosted its position in shares of Bank of Hawaii by 13.1% during the second quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock worth $93,533,000 after buying an additional 189,878 shares during the period. International Assets Investment Management LLC bought a new position in shares of Bank of Hawaii during the third quarter worth about $70,960,000. Dimensional Fund Advisors LP raised its position in Bank of Hawaii by 14.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock valued at $45,167,000 after buying an additional 98,465 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Bank of Hawaii by 8.7% during the 2nd quarter. American Century Companies Inc. now owns 675,615 shares of the bank’s stock worth $38,652,000 after acquiring an additional 54,078 shares during the last quarter. Institutional investors own 82.18% of the company’s stock.

Analysts Set New Price Targets

BOH has been the subject of several research reports. DA Davidson raised their price target on shares of Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Barclays raised their target price on shares of Bank of Hawaii from $50.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Piper Sandler boosted their price target on shares of Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $64.80.

Bank of Hawaii Stock Performance

NYSE BOH opened at $77.59 on Monday. The firm has a market capitalization of $3.08 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 5.10 and a beta of 1.03. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average price is $67.74 and its two-hundred day moving average price is $63.59. Bank of Hawaii Co. has a 1 year low of $54.50 and a 1 year high of $81.45.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) 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 company had revenue of $265.76 million for the quarter, compared to analysts’ expectations of $160.29 million. During the same period in the prior year, the firm earned $1.17 EPS. As a group, research analysts anticipate that Bank of Hawaii Co. will post 3.52 EPS for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.61%. Bank of Hawaii’s payout ratio is 84.08%.

Insider Transactions at Bank of Hawaii

In other news, insider Matthew Emerson sold 1,355 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total transaction of $97,925.85. Following the completion of the sale, the insider now owns 13,717 shares in the company, valued at approximately $991,327.59. This trade represents a 8.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.11% of the stock is currently owned by corporate insiders.

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.