Bank of Hawaii Co. (NYSE:BOH) Shares Sold by PNC Financial Services Group Inc.

Posted by Defense World Staff on May 29th, 2023

PNC Financial Services Group Inc. lowered its stake in Bank of Hawaii Co. (NYSE:BOH – Get Rating) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,425 shares of the bank’s stock after selling 2,338 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bank of Hawaii were worth $1,507,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Eagle Bay Advisors LLC lifted its position in Bank of Hawaii by 5,445.5% in the third quarter. Eagle Bay Advisors LLC now owns 610 shares of the bank’s stock valued at $46,000 after buying an additional 599 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Bank of Hawaii during the third quarter worth about $53,000. Ronald Blue Trust Inc. increased its stake in Bank of Hawaii by 128.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 698 shares of the bank’s stock worth $53,000 after purchasing an additional 393 shares during the period. Covestor Ltd increased its stake in Bank of Hawaii by 72.4% during the first quarter. Covestor Ltd now owns 707 shares of the bank’s stock worth $59,000 after purchasing an additional 297 shares during the period. Finally, Captrust Financial Advisors increased its stake in Bank of Hawaii by 91.0% during the first quarter. Captrust Financial Advisors now owns 938 shares of the bank’s stock worth $79,000 after purchasing an additional 447 shares during the period. Institutional investors and hedge funds own 74.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. TheStreet lowered shares of Bank of Hawaii from a “b-” rating to a “c+” rating in a research note on Tuesday, April 4th. StockNews.com upgraded shares of Bank of Hawaii to a “sell” rating in a research note on Friday, May 12th. Keefe, Bruyette & Woods cut their target price on shares of Bank of Hawaii from $83.00 to $60.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. Finally, DA Davidson cut their target price on shares of Bank of Hawaii from $76.00 to $55.00 in a research note on Monday, March 20th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $66.25.

Bank of Hawaii Stock Performance

Shares of Bank of Hawaii stock opened at $39.22 on Monday. The firm has a market capitalization of $1.56 billion, a P/E ratio of 7.40, a P/E/G ratio of 1.14 and a beta of 0.97. Bank of Hawaii Co. has a 52 week low of $30.83 and a 52 week high of $85.45. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $46.08 and its two-hundred day moving average is $65.38.

Bank of Hawaii (NYSE:BOH – Get Rating) last announced its quarterly earnings results on Monday, April 24th. The bank reported $1.14 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.09). The company had revenue of $229.07 million during the quarter, compared to analysts’ expectations of $177.67 million. Bank of Hawaii had a net margin of 26.90% and a return on equity of 19.01%. During the same quarter in the prior year, the company earned $1.32 earnings per share. Research analysts forecast that Bank of Hawaii Co. will post 4.29 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Wednesday, May 31st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 7.14%. The ex-dividend date is Tuesday, May 30th. Bank of Hawaii’s payout ratio is currently 52.83%.

Insider Activity

In other news, Director Alicia E. Moy acquired 4,200 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was acquired at an average cost of $47.90 per share, with a total value of $201,180.00. Following the completion of the acquisition, the director now owns 10,482 shares of the company’s stock, valued at $502,087.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Alicia E. Moy purchased 4,200 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was purchased at an average cost of $47.90 per share, with a total value of $201,180.00. Following the completion of the acquisition, the director now directly owns 10,482 shares in the company, valued at $502,087.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kent Thomas Lucien purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were bought at an average cost of $32.29 per share, with a total value of $32,290.00. Following the completion of the acquisition, the director now owns 5,500 shares of the company’s stock, valued at $177,595. The disclosure for this purchase can be found here. Corporate insiders own 2.11% of the company’s stock.

Bank of Hawaii Profile

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Bank of Hawaii Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers financial products and services, including loan, deposit and insurance products, private banking and international client banking services, trust services, investment management, and institutional investment advisory services.