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 the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $79.84, for a total transaction of $159,680.00. Following the completion of the transaction, the insider owned 2,441 shares in the company, valued at approximately $194,889.44. The trade was a 45.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bank of Hawaii Stock Down 0.8%

NYSE:BOH opened at $79.04 on Friday. The firm has a market cap of $3.12 billion, a P/E ratio of 14.75, a P/E/G ratio of 0.91 and a beta of 0.71. 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 fifty-two week low of $59.36 and a fifty-two week high of $86.31. The firm has a 50-day simple moving average of $80.49 and a two-hundred day simple moving average of $77.87.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.01. The firm had revenue of $196.90 million for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $1.06 earnings per share. Analysts predict that Bank of Hawaii Corporation will post 5.88 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company 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. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, August 31st. Bank of Hawaii’s payout ratio is presently 52.24%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BOH. Stephens downgraded Bank of Hawaii from an “overweight” rating to an “equal weight” rating and set a $85.00 target price on the stock. in a research note on Thursday. Benchmark restated a “hold” rating on shares of Bank of Hawaii in a research note on Tuesday, July 28th. DA Davidson upped their price target on Bank of Hawaii from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Barclays dropped their price objective on Bank of Hawaii from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 28th. Finally, Wall Street Zen downgraded Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Bank of Hawaii presently has an average rating of “Hold” and an average target price of $85.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOH. Danske Bank A S purchased a new stake in Bank of Hawaii in the fourth quarter worth approximately $27,000. Western Wealth Management LLC purchased a new stake in Bank of Hawaii during the 1st quarter valued at $33,000. SHP Wealth Management purchased a new stake in Bank of Hawaii during the 4th quarter valued at $34,000. Global Retirement Partners LLC bought a new position in shares of Bank of Hawaii during the 2nd quarter valued at $34,000. Finally, Quarry LP lifted its holdings in shares of Bank of Hawaii by 1,497.2% during the 3rd quarter. Quarry LP now owns 575 shares of the bank’s stock valued at $38,000 after buying an additional 539 shares during the period. Institutional investors own 82.18% of the company’s stock.

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.