Insider Selling: Bank of Hawaii (NYSE:BOH) Insider Sells $159,680.00 in Stock

Bank of Hawaii Corporation (NYSE:BOH) insider Marco Abbruzzese sold 2,000 shares of Bank of Hawaii stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $79.84, for a total value of $159,680.00. Following the completion of the sale, the insider directly owned 2,441 shares of the company’s stock, valued at approximately $194,889.44. This trade represents a 45.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Bank of Hawaii Stock Performance

NYSE BOH traded up $1.05 during trading on Tuesday, hitting $81.20. 181,717 shares of the company’s stock traded hands, compared to its average volume of 419,789. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.91 and a beta of 0.71. Bank of Hawaii Corporation has a 12-month low of $59.36 and a 12-month high of $86.31. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 0.70. The business has a 50 day moving average of $80.37 and a 200-day moving average of $77.69.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, July 27th. The bank reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.01. The firm had revenue of $196.90 million during the quarter, compared to analyst estimates of $199.51 million. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. During the same quarter last year, the business earned $1.06 earnings per share. As a group, equities research analysts anticipate that Bank of Hawaii Corporation will post 5.88 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.80 annualized dividend and a yield of 3.4%. Bank of Hawaii’s dividend payout ratio (DPR) is 52.24%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Barclays reduced their price target on Bank of Hawaii from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 28th. Zacks Research lowered Bank of Hawaii from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. DA Davidson increased their price objective on Bank of Hawaii from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Finally, Benchmark restated a “hold” rating on shares of Bank of Hawaii in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.20.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Marble Harbor Investment Counsel LLC increased its position in shares of Bank of Hawaii by 14.3% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 112,199 shares of the bank’s stock worth $7,671,000 after purchasing an additional 14,075 shares during the last quarter. Vanguard Group Inc. lifted its position in Bank of Hawaii by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 4,565,434 shares of the bank’s stock valued at $312,139,000 after purchasing an additional 26,821 shares during the last quarter. Tudor Investment Corp ET AL grew its stake in Bank of Hawaii by 33.6% in the 3rd quarter. Tudor Investment Corp ET AL now owns 105,845 shares of the bank’s stock worth $6,948,000 after buying an additional 26,634 shares in the last quarter. Ruffer LLP purchased a new position in Bank of Hawaii in the 4th quarter worth approximately $3,107,000. Finally, SG Americas Securities LLC bought a new position in shares of Bank of Hawaii in the 4th quarter worth $2,024,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

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.