Principal Financial Group Inc. Raises Holdings in Bank of Hawaii Corporation (NYSE:BOH)

Principal Financial Group Inc. boosted its stake in shares of Bank of Hawaii Corporation (NYSE:BOH) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,888 shares of the bank’s stock after purchasing an additional 5,170 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Bank of Hawaii worth $13,648,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BOH. Versant Capital Management Inc increased its holdings in Bank of Hawaii by 80.2% during the 1st quarter. Versant Capital Management Inc now owns 391 shares of the bank’s stock worth $27,000 after purchasing an additional 174 shares during the period. Private Trust Co. NA increased its holdings in Bank of Hawaii by 18,333.3% during the 1st quarter. Private Trust Co. NA now owns 553 shares of the bank’s stock worth $38,000 after purchasing an additional 550 shares during the period. Golden State Wealth Management LLC increased its holdings in Bank of Hawaii by 110.5% during the 1st quarter. Golden State Wealth Management LLC now owns 581 shares of the bank’s stock worth $40,000 after purchasing an additional 305 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Bank of Hawaii in the 4th quarter valued at about $49,000. Finally, Headlands Technologies LLC increased its holdings in shares of Bank of Hawaii by 285.8% in the 4th quarter. Headlands Technologies LLC now owns 949 shares of the bank’s stock valued at $68,000 after acquiring an additional 703 shares during the last quarter. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Insider Activity

In other Bank of Hawaii news, insider Taryn L. Salmon sold 1,652 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $66.15, for a total transaction of $109,279.80. Following the completion of the sale, the insider directly owned 6,442 shares of the company’s stock, valued at approximately $426,138.30. This trade represents a 20.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.07% of the stock is currently owned by company insiders.

Bank of Hawaii Stock Down 1.8%

Shares of NYSE BOH opened at $68.80 on Friday. The stock has a market cap of $2.73 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 1.06 and a beta of 0.77. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.41. Bank of Hawaii Corporation has a 52-week low of $57.45 and a 52-week high of $82.70. The business has a 50-day moving average price of $67.89 and a 200 day moving average price of $68.78.

Bank of Hawaii (NYSE:BOH) last announced its earnings results on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $169.87 million during the quarter, compared to analysts’ expectations of $168.65 million. Bank of Hawaii had a return on equity of 12.16% and a net margin of 15.12%. During the same period in the prior year, the firm earned $0.87 EPS. Equities research analysts forecast that Bank of Hawaii Corporation will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.70 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.07%. Bank of Hawaii’s dividend payout ratio (DPR) is presently 78.65%.

Analyst Ratings Changes

Separately, Barclays increased their price objective on Bank of Hawaii from $67.00 to $68.00 and gave the company an “underweight” rating in a report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $77.20.

Bank of Hawaii Company Profile

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.