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

Principal Financial Group Inc. cut its position in shares of Bank of Hawaii Co. (NYSE:BOH - Free Report) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,267 shares of the bank's stock after selling 8,484 shares during the period. 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 large investors have also recently made changes to their positions in BOH. Victory Capital Management Inc. boosted its position in Bank of Hawaii by 13.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank's stock valued at $93,533,000 after buying an additional 189,878 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Bank of Hawaii by 14.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank's stock worth $45,167,000 after buying an additional 98,465 shares during the period. Swedbank AB grew its position in shares of Bank of Hawaii by 3.6% during the 2nd quarter. Swedbank AB now owns 725,000 shares of the bank's stock worth $41,477,000 after buying an additional 25,000 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Bank of Hawaii by 8.7% during the second quarter. American Century Companies Inc. now owns 675,615 shares of the bank's stock valued at $38,652,000 after buying an additional 54,078 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of Bank of Hawaii by 0.5% during the second quarter. Natixis Advisors LLC now owns 295,878 shares of the bank's stock valued at $16,927,000 after buying an additional 1,522 shares during the period. 82.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Barclays increased their target price on shares of Bank of Hawaii from $50.00 to $56.00 and gave the stock an "underweight" rating in a report on Tuesday, October 29th. Piper Sandler increased their price objective on shares of Bank of Hawaii from $61.00 to $66.00 and gave the company an "underweight" rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods boosted 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. Finally, DA Davidson increased their target price on Bank of Hawaii from $65.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, Bank of Hawaii presently has a consensus rating of "Hold" and a consensus target price of $64.80.

Insider Transactions at Bank of Hawaii

In other news, insider Matthew Emerson sold 1,355 shares of the stock in a transaction 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 sale, the insider now owns 13,717 shares in the company, valued at $991,327.59. This represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.47% of the company's stock.

Bank of Hawaii Stock Down 0.5 %

NYSE BOH traded down $0.42 on Monday, hitting $77.17. The stock had a trading volume of 243,713 shares, compared to its average volume of 322,974. The business's fifty day moving average price is $67.74 and its 200 day moving average price is $63.59. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. Bank of Hawaii Co. has a 52-week low of $54.50 and a 52-week high of $81.45. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 5.10 and a beta of 1.03.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $160.29 million. During the same period in the previous year, the company earned $1.17 earnings per share. Equities research analysts anticipate that Bank of Hawaii Co. will post 3.52 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.80 annualized dividend and a dividend yield of 3.63%. Bank of Hawaii's payout ratio is currently 84.08%.

Bank of Hawaii 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.