Principal Financial Group Inc. reduces its equity position in Bank of Hawaii Co. (NYSE: BOH)

Principal Financial Group Inc. reduced its stake in Bank of Hawaii Co. (NYSE: BOH – Get Rating) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The company held 136,849 shares of the bank after selling 666 shares during the period. Principal Financial Group Inc.’s holdings in Bank of Hawaii were worth $11,484,000 when it last filed with the SEC.

Other large investors have also recently changed their holdings in the company. Covestor Ltd bought a new position in shares of Bank of Hawaii in the fourth quarter worth about $34,000. Steward Partners Investment Advisory LLC increased its stake in shares of Bank of Hawaii by 110.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 476 shares of the bank worth $40,000 after buying 250 more shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Bank of Hawaii in the fourth quarter for a value of around $46,000. GHP Investment Advisors Inc. bought a new stake in shares of Bank of Hawaii in the first quarter worth approximately $89,000. Finally, Pinebridge Investments LP bought a new stake in shares of Bank of Hawaii in the fourth quarter worth about $117,000. Hedge funds and other institutional investors hold 71.07% of the company’s shares.

Insider trading at the Bank of Hawaii

In other news, CEO Peter S. Ho sold 5,500 shares of the company in a trade that took place on Wednesday, August 10. The stock was sold at an average price of $81.67, for a total value of $449,185.00. As a result of the sale, the CEO now directly owns 239,181 shares of the company, valued at approximately $19,533,912.27. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Insiders hold 2.06% of the shares of the company.

Wall Street analysts predict growth

Several analysts have recently released reports on the company. upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a Friday, Aug. 19 research note. Jefferies Financial Group reduced its target price on Bank of Hawaii from $87.00 to $79.00 in a Monday July 11 research note.

Bank of Hawaii stock performance

Bank of Hawaii stock opened Wednesday at $80.88. The stock’s 50-day simple moving average is $77.63 and its two-hundred-day simple moving average is $79.77. The company has a debt ratio of 0.01, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $3.25 billion, a price/earnings ratio of 14.02, a PEG ratio of 1.86 and a beta of 1.12. Bank of Hawaii Co. has a fifty-two week low of $70.89 and a fifty-two week high of $92.38.

Bank of Hawaii (NYSE:BOH – Get Rating) last released quarterly earnings data on Monday, July 25. The bank reported earnings per share of $1.38 for the quarter, beating the consensus estimate of $1.35 by $0.03. Bank of Hawaii had a return on equity of 17.98% and a net margin of 33.63%. In the same quarter a year earlier, the company posted EPS of $1.68. As a group, analysts expect Bank of Hawaii Co. to post earnings per share of 5.64 for the current fiscal year.

Bank of Hawaii announces dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15. Shareholders of record on Wednesday, August 31 will receive a dividend of $0.70. The ex-date of this dividend is Tuesday, August 30. This represents a dividend of $2.80 on an annualized basis and a dividend yield of 3.46%. Bank of Hawaii’s dividend payout ratio is currently 48.53%.

Bank of Hawaii Corporate Profile

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Bank of Hawaii Corporation operates as a bank holding company for Bank of Hawaii which 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 Others. The Consumer Banking segment offers checking, savings and term deposit accounts; residential mortgages, home equity lines of credit, auto loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards; banking, investment, credit and trust services to individuals and families, and high net worth individuals; investment management; institutional investment advisory services to corporations, government entities and foundations; and brokerage offerings, including stocks, mutual funds, life insurance and annuity products.

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Institutional ownership by quarter for Bank of Hawaii (NYSE: BOH)

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