PNC Financial Services Group Inc. Sells 147 Shares of Bank of Hawaii Co. (NYSE:BOH)

PNC Financial Services Group Inc. lessened its stake in shares of Bank of Hawaii Co. (NYSE:BOH) by 1.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,534 shares of the bank’s stock after selling 147 shares during the period. PNC Financial Services Group Inc.’s holdings in Bank of Hawaii were worth $537,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BOH. State Street Corp increased 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 acquiring an additional 106,717 shares during the period. Congress Asset Management Co. increased its stake in Bank of Hawaii by 108.6% during the 4th quarter. Congress Asset Management Co. now owns 127,500 shares of the bank’s stock worth $9,083,000 after acquiring an additional 66,366 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Bank of Hawaii by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,571,512 shares of the bank’s stock worth $111,955,000 after acquiring an additional 60,092 shares during the period. Barclays PLC boosted 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 purchasing an additional 44,599 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Bank of Hawaii by 351.7% in the 3rd quarter. FMR LLC now owns 36,309 shares of the bank’s stock valued at $2,279,000 after purchasing an additional 28,271 shares in the last quarter. Institutional investors own 82.18% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Patrick M. Mcguirk sold 2,000 shares of Bank of Hawaii stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $75.08, for a total value of $150,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,173 shares of the company’s stock, valued at approximately $688,708.84. This trade represents a 17.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Taryn L. Salmon sold 449 shares of Bank of Hawaii stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $74.97, for a total value of $33,661.53. Following the completion of the transaction, the insider now directly owns 9,880 shares of the company’s stock, valued at approximately $740,703.60. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.11% of the company’s stock.

Bank of Hawaii Stock Down 0.2 %

Shares of BOH opened at $68.10 on Thursday. The company has a market capitalization of $2.71 billion, a PE ratio of 19.68 and a beta of 1.01. Bank of Hawaii Co. has a 12 month low of $54.50 and a 12 month high of $82.70. The stock’s 50-day moving average price is $71.39 and its two-hundred day moving average price is $70.69. 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 (NYSE:BOH) last announced its earnings results on Monday, January 27th. The bank reported $0.85 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.02). Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. On average, analysts anticipate that Bank of Hawaii Co. will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Friday, February 28th. Bank of Hawaii’s payout ratio is presently 80.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BOH. Barclays raised their target price on Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. DA Davidson raised their target price on Bank of Hawaii from $75.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Piper Sandler raised their target price on Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods raised their target price on Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Stephens assumed coverage on Bank of Hawaii in a report on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 target price on the stock. Three 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.00.

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.