PNC Financial Services Group Inc. Trims Position in Bank of Hawaii Co. (NYSE:BOH)

PNC Financial Services Group Inc. reduced its holdings in Bank of Hawaii Co. (NYSE:BOH) by 7.3% during the 4th quarter, Holdings Channel reports. The fund owned 8,952 shares of the bank’s stock after selling 701 shares during the period. PNC Financial Services Group Inc.’s holdings in Bank of Hawaii were worth $649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in shares of Bank of Hawaii during the 4th quarter valued at about $41,000. Quest Partners LLC purchased a new stake in Bank of Hawaii in the 4th quarter worth approximately $41,000. Strs Ohio purchased a new stake in Bank of Hawaii in the 4th quarter worth approximately $50,000. Covestor Ltd grew its stake in shares of Bank of Hawaii by 17.1% during the 3rd quarter. Covestor Ltd now owns 1,429 shares of the bank’s stock worth $71,000 after purchasing an additional 209 shares during the period. Finally, iA Global Asset Management Inc. purchased a new position in shares of Bank of Hawaii during the 3rd quarter valued at approximately $123,000. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on BOH shares. Piper Sandler dropped their price target on shares of Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 23rd. Jefferies Financial Group cut their price target on Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating for the company in a research note on Monday, April 8th. StockNews.com raised Bank of Hawaii to a “sell” rating in a report on Thursday, May 30th. Barclays dropped their price objective on Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating on the stock in a report on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods upped their target price on Bank of Hawaii from $55.00 to $58.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $57.50.

Bank of Hawaii Stock Down 2.1 %

BOH opened at $56.36 on Wednesday. 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 Co. has a twelve month low of $39.02 and a twelve month high of $75.19. The company has a market cap of $2.24 billion, a PE ratio of 14.53 and a beta of 1.07. The company has a 50-day moving average price of $57.72 and a 200 day moving average price of $62.03.

Bank of Hawaii (NYSE:BOH) last announced its earnings results on Friday, April 26th. The bank reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The firm had revenue of $252.64 million for 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 previous year, the company earned $1.14 EPS. Sell-side analysts expect that Bank of Hawaii Co. will post 3.47 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.70 dividend. The ex-dividend date was Friday, May 31st. This represents a $2.80 dividend on an annualized basis and a yield of 4.97%. Bank of Hawaii’s payout ratio is currently 72.16%.

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.