Insider Selling: Bank of Hawaii (NYSE:BOH) Insider Sells $199,161.19 in Stock

Bank of Hawaii Corporation (NYSE:BOH) insider Marco Abbruzzese sold 2,441 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $81.59, for a total value of $199,161.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bank of Hawaii Stock Down 0.8%

Shares of NYSE:BOH opened at $79.04 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 0.70. Bank of Hawaii Corporation has a 1 year low of $59.36 and a 1 year high of $86.31. The stock has a market capitalization of $3.12 billion, a P/E ratio of 14.75, a PEG ratio of 0.91 and a beta of 0.71. The stock has a 50-day simple moving average of $80.49 and a 200-day simple moving average of $77.87.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.01. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. The firm had revenue of $196.90 million during the quarter, compared to the consensus estimate of $199.51 million. During the same quarter in the prior year, the company earned $1.06 EPS. Equities analysts forecast that Bank of Hawaii Corporation will post 5.88 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.70 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.80 annualized dividend and a dividend yield of 3.5%. Bank of Hawaii’s dividend payout ratio is presently 52.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in Bank of Hawaii by 16.4% during the 1st quarter. Royal Bank of Canada now owns 26,241 shares of the bank’s stock worth $1,808,000 after buying an additional 3,689 shares during the period. AQR Capital Management LLC grew its stake in shares of Bank of Hawaii by 177.5% during the first quarter. AQR Capital Management LLC now owns 23,818 shares of the bank’s stock valued at $1,617,000 after acquiring an additional 15,234 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Bank of Hawaii by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank’s stock valued at $1,605,000 after acquiring an additional 1,027 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Bank of Hawaii by 35.8% during the first quarter. Intech Investment Management LLC now owns 19,808 shares of the bank’s stock worth $1,366,000 after acquiring an additional 5,227 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Bank of Hawaii during the first quarter worth about $41,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BOH. Barclays reduced their target price on shares of Bank of Hawaii from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 28th. Stephens lowered Bank of Hawaii from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective on the stock. in a research report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Hawaii in a research report on Friday, July 24th. Benchmark restated a “hold” rating on shares of Bank of Hawaii in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods decreased their target price on Bank of Hawaii from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $85.00.

Bank of Hawaii Company Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.