Principal Financial Group Inc. Boosts Stock Position in Bank of Hawaii Co. (NYSE:BOH)

Principal Financial Group Inc. grew its holdings in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 192,718 shares of the bank's stock after buying an additional 5,451 shares during the period. Principal Financial Group Inc. owned 0.48% of Bank of Hawaii worth $13,729,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV raised its holdings in Bank of Hawaii by 70.9% in the 4th quarter. KBC Group NV now owns 1,957 shares of the bank's stock valued at $139,000 after acquiring an additional 812 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Bank of Hawaii by 29.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,387 shares of the bank's stock valued at $150,000 after purchasing an additional 536 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of Bank of Hawaii in the fourth quarter valued at approximately $204,000. Choreo LLC purchased a new position in Bank of Hawaii during the fourth quarter worth approximately $205,000. Finally, Crestwood Advisors Group LLC acquired a new position in Bank of Hawaii during the third quarter worth $207,000. 82.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of Hawaii

In other Bank of Hawaii news, CAO Patrick M. Mcguirk sold 2,000 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $75.08, for a total transaction of $150,160.00. Following the sale, the chief accounting officer now directly owns 9,173 shares in the company, valued at $688,708.84. This represents a 17.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Taryn L. Salmon sold 449 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $74.97, for a total transaction of $33,661.53. Following the sale, the insider now directly owns 9,880 shares in the company, valued at $740,703.60. This represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.11% of the company's stock.

Bank of Hawaii Trading Up 1.0 %

BOH stock traded up $0.72 during mid-day trading on Friday, hitting $72.19. 474,454 shares of the company were exchanged, compared to its average volume of 377,660. Bank of Hawaii Co. has a 12-month low of $54.50 and a 12-month high of $82.70. The firm has a market capitalization of $2.87 billion, a P/E ratio of 20.86 and a beta of 1.04. The business has a fifty day simple moving average of $71.93 and a 200-day simple moving average of $70.43. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The bank reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.02). Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. On average, equities research analysts predict that Bank of Hawaii Co. will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.88%. Bank of Hawaii's payout ratio is presently 80.92%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BOH. 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 note on Thursday, December 5th. Keefe, Bruyette & Woods raised their price objective on shares of Bank of Hawaii from $74.00 to $81.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Piper Sandler boosted their target price on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an "underweight" rating in a report on Tuesday, January 28th. DA Davidson increased their price target on shares of Bank of Hawaii from $75.00 to $79.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Finally, Stephens assumed coverage on shares of Bank of Hawaii in a research report on Wednesday, November 27th. They set an "overweight" rating and a $90.00 price target on the stock. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Bank of Hawaii currently has an average rating of "Hold" and an average target price of $73.00.

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.