Bank of Hawaii Co. (NYSE:BOH) Shares Sold by TIAA Trust National Association

TIAA Trust National Association reduced its position in Bank of Hawaii Co. (NYSE:BOH) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,946 shares of the bank’s stock after selling 2,014 shares during the period. TIAA Trust National Association owned approximately 0.09% of Bank of Hawaii worth $2,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Bank of Hawaii by 1.2% during the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock worth $57,025,000 after buying an additional 10,357 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Bank of Hawaii by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank’s stock valued at $94,872,000 after purchasing an additional 35,187 shares in the last quarter. Principal Financial Group Inc. raised its position in Bank of Hawaii by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 192,718 shares of the bank’s stock valued at $13,729,000 after purchasing an additional 5,451 shares during the period. Barclays PLC lifted its stake in shares of Bank of Hawaii by 91.2% during the third quarter. Barclays PLC now owns 93,504 shares of the bank’s stock worth $5,870,000 after purchasing an additional 44,599 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Bank of Hawaii by 13.6% in the third quarter. JPMorgan Chase & Co. now owns 86,591 shares of the bank’s stock worth $5,435,000 after buying an additional 10,390 shares during the period. Institutional investors and hedge funds own 82.18% of the company’s stock.

Bank of Hawaii Stock Performance

Shares of Bank of Hawaii stock opened at $70.19 on Thursday. 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 Co. has a 1 year low of $54.50 and a 1 year high of $82.70. The firm’s 50-day simple moving average is $71.39 and its 200-day simple moving average is $70.83. The firm has a market cap of $2.79 billion, a PE ratio of 20.29 and a beta of 1.01.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, January 27th. The bank reported $0.85 EPS 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%. Equities analysts forecast that Bank of Hawaii Co. will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.80 annualized dividend and a yield of 3.99%. Bank of Hawaii’s payout ratio is 80.92%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Stephens initiated coverage on 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. DA Davidson upped their target price 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. Piper Sandler raised their price target 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. Barclays boosted their price objective on shares of Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Finally, Keefe, Bruyette & Woods raised their target price on Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.00.

Insiders Place Their Bets

In related news, insider Taryn L. Salmon sold 449 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $74.97, for a total transaction of $33,661.53. Following the sale, the insider now owns 9,880 shares in the company, valued at $740,703.60. This represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Patrick M. Mcguirk sold 2,000 shares of Bank of Hawaii stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $75.08, for a total value of $150,160.00. Following the completion of the transaction, the chief accounting officer now owns 9,173 shares of the company’s stock, valued at approximately $688,708.84. The trade was a 17.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

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.