Victory Capital Management Inc. Sells 1,003,834 Shares of Bank of Hawaii Co. (NYSE:BOH)

Victory Capital Management Inc. cut its holdings in Bank of Hawaii Co. (NYSE:BOH - Free Report) by 61.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 631,075 shares of the bank's stock after selling 1,003,834 shares during the period. Victory Capital Management Inc. owned approximately 1.59% of Bank of Hawaii worth $39,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Bank of Hawaii in the second quarter worth approximately $106,000. Point72 DIFC Ltd bought a new stake in shares of Bank of Hawaii in the 2nd quarter valued at $119,000. UMB Bank n.a. lifted its position in shares of Bank of Hawaii by 5,508.3% during the 3rd quarter. UMB Bank n.a. now owns 2,692 shares of the bank's stock valued at $169,000 after acquiring an additional 2,644 shares during the period. Rothschild Investment LLC bought a new position in Bank of Hawaii during the second quarter worth $172,000. Finally, Bridges Investment Management Inc. acquired a new stake in Bank of Hawaii in the second quarter worth $205,000. 82.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the business's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total value of $97,925.85. Following the transaction, the insider now owns 13,717 shares of the company's stock, valued at approximately $991,327.59. The trade was a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BOH. DA Davidson upped their price objective 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. Barclays increased their price target on Bank of Hawaii from $50.00 to $56.00 and gave the stock an "underweight" rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their price objective on Bank of Hawaii from $67.00 to $74.00 and gave the company a "market perform" rating in a research note on Tuesday, October 29th. Finally, Piper Sandler upped their target price on Bank of Hawaii from $61.00 to $66.00 and gave the stock an "underweight" rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to MarketBeat, Bank of Hawaii currently has an average rating of "Hold" and a consensus target price of $64.80.

Bank of Hawaii Stock Up 0.4 %

BOH traded up $0.30 during midday trading on Friday, reaching $77.59. 250,990 shares of the company were exchanged, compared to its average volume of 394,759. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 5.08 and a beta of 1.03. Bank of Hawaii Co. has a one year low of $54.50 and a one year high of $81.45. The company's fifty day moving average price is $67.74 and its 200 day moving average price is $63.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of Hawaii (NYSE:BOH - Get Free Report) last announced 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 return on equity of 11.33% and a net margin of 13.76%. The business had revenue of $265.76 million during the quarter, compared to the consensus estimate of $160.29 million. During the same quarter in the prior year, the company posted $1.17 earnings per share. As a group, analysts expect that Bank of Hawaii Co. will post 3.52 EPS for the current year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.61%. The ex-dividend date is Friday, November 29th. Bank of Hawaii's dividend payout ratio (DPR) is presently 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.