Insider Selling: Bank of Hawaii Co. (NYSE:BOH) Insider Sells $160,279.20 in Stock

Bank of Hawaii Co. (NYSE:BOH) insider Taryn L. Salmon sold 2,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $67.80, for a total value of $160,279.20. Following the sale, the insider now owns 10,785 shares of the company’s stock, valued at $731,223. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Bank of Hawaii Trading Up 0.7 %

Shares of Bank of Hawaii stock opened at $69.13 on Monday. Bank of Hawaii Co. has a 12-month low of $45.56 and a 12-month high of $75.19. The firm’s 50 day simple moving average is $59.16 and its two-hundred day simple moving average is $60.46. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 17.82 and a beta of 1.06.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, July 22nd. The bank reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $255.62 million during the quarter, compared to analysts’ expectations of $157.12 million. Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. During the same quarter last year, the business earned $1.12 EPS. Analysts predict that Bank of Hawaii Co. will post 3.4 EPS for the current year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.70 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.05%. Bank of Hawaii’s dividend payout ratio is currently 72.16%.

Hedge Funds Weigh In On Bank of Hawaii

Hedge funds and other institutional investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its holdings in shares of Bank of Hawaii by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the bank’s stock valued at $1,144,000 after acquiring an additional 300 shares during the last quarter. Swedbank AB grew its position in 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 purchasing an additional 25,000 shares during the period. Tidal Investments LLC purchased a new position in shares of Bank of Hawaii during the 1st quarter valued at about $832,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Bank of Hawaii in the 1st quarter valued at about $283,000. Finally, Vancity Investment Management Ltd acquired a new position in shares of Bank of Hawaii in the 1st quarter valued at about $291,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

Wall Street Analyst Weigh In

BOH has been the subject of several analyst reports. Jefferies Financial Group increased their price target on shares of Bank of Hawaii from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Barclays lowered their target price on shares of Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating for the company in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods upped their price target on Bank of Hawaii from $58.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Bank of Hawaii to a “sell” rating in a report on Thursday, May 30th. Finally, Piper Sandler boosted their target price on Bank of Hawaii from $58.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $58.50.

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.