Principal Financial Group Inc. Has $11.76 Million Position in Bank of Hawaii Co. (NYSE:BOH)

Principal Financial Group Inc. trimmed its position in Bank of Hawaii Co. (NYSE:BOH) by 4.3% during the third quarter, HoldingsChannel.com reports. The fund owned 187,267 shares of the bank’s stock after selling 8,484 shares during the period. Principal Financial Group Inc.’s holdings in Bank of Hawaii were worth $11,755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in Bank of Hawaii by 1.2% in the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock valued at $57,025,000 after purchasing an additional 10,357 shares in the last quarter. Barclays PLC grew its holdings in shares of Bank of Hawaii by 91.2% in the 3rd quarter. Barclays PLC now owns 93,504 shares of the bank’s stock valued at $5,870,000 after buying an additional 44,599 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Bank of Hawaii in the 3rd quarter valued at $365,000. State Street Corp raised its stake in Bank of Hawaii by 5.0% during the 3rd quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock worth $140,897,000 after buying an additional 106,717 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Bank of Hawaii by 1.2% during the third quarter. Stifel Financial Corp now owns 68,757 shares of the bank’s stock worth $4,316,000 after acquiring an additional 788 shares in the last quarter. Institutional investors own 82.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BOH shares. Piper Sandler raised their price target on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Stephens began coverage on shares of Bank of Hawaii in a report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 target price on the stock. DA Davidson lifted their price target on shares of Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of Hawaii from $74.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Barclays boosted their price objective on shares of Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $71.83.

Insider Activity

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total transaction of $97,925.85. Following the completion of the sale, the insider now owns 13,717 shares of the company’s stock, valued at $991,327.59. This trade represents a 8.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.11% of the stock is owned by insiders.

Bank of Hawaii Price Performance

Shares of BOH opened at $70.39 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. Bank of Hawaii Co. has a twelve month low of $54.50 and a twelve month high of $82.70. The company has a 50 day moving average of $74.42 and a 200-day moving average of $67.18. The stock has a market capitalization of $2.80 billion, a P/E ratio of 21.14, a P/E/G ratio of 4.86 and a beta of 1.03.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.11. The firm had revenue of $265.76 million for the quarter, compared to analyst estimates of $160.29 million. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. During the same quarter in the previous year, the firm earned $1.17 EPS. As a group, equities research analysts forecast that Bank of Hawaii Co. will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, November 29th. This represents a $2.80 annualized dividend and a dividend yield of 3.98%. Bank of Hawaii’s dividend payout ratio is presently 84.08%.

Bank of Hawaii 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.