Victory Capital Management Inc. Cuts Position in Bank of Hawaii Co. (NYSE:BOH)

Victory Capital Management Inc. cut its stake in Bank of Hawaii Co. (NYSE:BOH) by 61.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 631,075 shares of the bank’s stock after selling 1,003,834 shares during the quarter. Victory Capital Management Inc. owned about 1.59% of Bank of Hawaii worth $39,613,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BOH. Dimensional Fund Advisors LP grew its stake in Bank of Hawaii by 14.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock valued at $45,167,000 after purchasing an additional 98,465 shares during the last quarter. Swedbank AB grew its position in shares of Bank of Hawaii by 3.6% in the second quarter. Swedbank AB now owns 725,000 shares of the bank’s stock valued at $41,477,000 after purchasing an additional 25,000 shares in the last quarter. American Century Companies Inc. grew its position in shares of Bank of Hawaii by 8.7% in the second quarter. American Century Companies Inc. now owns 675,615 shares of the bank’s stock valued at $38,652,000 after purchasing an additional 54,078 shares in the last quarter. Natixis Advisors LLC grew its position in shares of Bank of Hawaii by 0.5% in the second quarter. Natixis Advisors LLC now owns 295,878 shares of the bank’s stock valued at $16,927,000 after purchasing an additional 1,522 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Bank of Hawaii by 12.5% in the second quarter. Envestnet Asset Management Inc. now owns 168,145 shares of the bank’s stock worth $9,620,000 after acquiring an additional 18,747 shares during the period. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BOH shares. Keefe, Bruyette & Woods upped their price target on Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Barclays raised their price target on Bank of Hawaii from $50.00 to $56.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Piper Sandler raised their price objective on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Finally, DA Davidson raised their price target on Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, Bank of Hawaii currently has a consensus rating of “Hold” and a consensus target price of $64.80.

Bank of Hawaii Price Performance

BOH stock opened at $77.58 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. Bank of Hawaii Co. has a 12-month low of $54.50 and a 12-month high of $81.45. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 5.08 and a beta of 1.03. The firm has a 50 day moving average of $67.74 and a 200-day moving average of $63.50.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 prior year, the company earned $1.17 EPS. As a group, equities analysts expect that Bank of Hawaii Co. will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.70 dividend. The ex-dividend date is Friday, November 29th. This represents a $2.80 annualized dividend and a yield of 3.61%. Bank of Hawaii’s dividend payout ratio (DPR) is presently 84.08%.

Insider Buying and Selling at Bank of Hawaii

In other news, insider Matthew Emerson sold 1,355 shares of the company’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 directly owns 13,717 shares in the company, valued at $991,327.59. This represents a 8.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.11% of the stock is currently owned by insiders.

About Bank of Hawaii

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.