Bank of Hawaii Co. (NYSE:BOH) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in Bank of Hawaii Co. (NYSE:BOH) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,319 shares of the bank’s stock after selling 1,544 shares during the period. Truist Financial Corp owned 0.07% of Bank of Hawaii worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in BOH. Cullen Frost Bankers Inc. acquired a new stake in shares of Bank of Hawaii in the 3rd quarter valued at about $37,000. Allspring Global Investments Holdings LLC lifted its stake in Bank of Hawaii by 2,197.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 781 shares of the bank’s stock valued at $39,000 after buying an additional 747 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Bank of Hawaii in the fourth quarter valued at approximately $41,000. Strs Ohio purchased a new position in shares of Bank of Hawaii during the fourth quarter worth approximately $50,000. Finally, Covestor Ltd increased its holdings in shares of Bank of Hawaii by 17.1% in the 3rd quarter. Covestor Ltd now owns 1,429 shares of the bank’s stock valued at $71,000 after acquiring an additional 209 shares during the period. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Bank of Hawaii Price Performance

Shares of NYSE:BOH opened at $59.46 on Friday. Bank of Hawaii Co. has a 52 week low of $30.83 and a 52 week high of $75.19. The company has a 50-day moving average price of $59.79 and a 200 day moving average price of $61.44. The company has a market cap of $2.36 billion, a P/E ratio of 15.32, a PEG ratio of 2.10 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.45.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Friday, April 26th. The bank reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). The business had revenue of $252.64 million during the quarter, compared to analyst estimates of $160.79 million. Bank of Hawaii had a net margin of 15.91% and a return on equity of 13.25%. During the same period in the prior year, the business earned $1.14 earnings per share. Research analysts predict that Bank of Hawaii Co. will post 3.53 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Friday, May 31st. Bank of Hawaii’s dividend payout ratio (DPR) is 72.16%.

Wall Street Analysts Forecast Growth

BOH has been the subject of a number of recent research reports. StockNews.com upgraded shares of Bank of Hawaii to a “sell” rating in a research note on Thursday, January 25th. Barclays decreased their target price on shares of Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating for the company in a research note on Tuesday, April 23rd. Jefferies Financial Group dropped their price target on Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Piper Sandler decreased their price objective on Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on Bank of Hawaii from $55.00 to $58.00 and gave the company an “underperform” rating in a report on Tuesday, April 23rd. Four research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $52.20.

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.