Victory Capital Management Inc. Decreases Holdings in Bank of Hawaii Corporation $BOH

Victory Capital Management Inc. decreased its position in Bank of Hawaii Corporation (NYSE:BOH) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 588,947 shares of the bank’s stock after selling 7,564 shares during the quarter. Victory Capital Management Inc. owned 1.48% of Bank of Hawaii worth $38,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Bank of Hawaii during the second quarter worth approximately $30,569,000. Qube Research & Technologies Ltd purchased a new stake in shares of Bank of Hawaii in the 2nd quarter valued at $6,879,000. Cubist Systematic Strategies LLC bought a new position in shares of Bank of Hawaii during the 2nd quarter valued at $6,725,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Bank of Hawaii during the 2nd quarter valued at $5,860,000. Finally, Basswood Capital Management L.L.C. raised its position in Bank of Hawaii by 32.7% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 339,540 shares of the bank’s stock worth $22,929,000 after purchasing an additional 83,621 shares during the period. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Bank of Hawaii Trading Down 1.2%

Shares of BOH opened at $75.70 on Friday. The stock has a market capitalization of $3.00 billion, a P/E ratio of 16.39, a PEG ratio of 0.77 and a beta of 0.73. Bank of Hawaii Corporation has a twelve month low of $57.44 and a twelve month high of $80.61. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $74.46 and a two-hundred day simple moving average of $69.14.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, January 26th. The bank reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. The firm had revenue of $189.65 million for the quarter, compared to analysts’ expectations of $184.83 million. Bank of Hawaii had a net margin of 19.30% and a return on equity of 14.42%. During the same quarter in the previous year, the company earned $0.85 earnings per share. On average, research analysts anticipate that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.7%. Bank of Hawaii’s dividend payout ratio is presently 60.61%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BOH. Zacks Research raised shares of Bank of Hawaii from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. DA Davidson raised their price objective on Bank of Hawaii from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, January 27th. Wall Street Zen upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Keefe, Bruyette & Woods upgraded Bank of Hawaii from a “market perform” rating to an “outperform” rating and increased their target price for the company from $75.00 to $91.00 in a report on Tuesday, January 27th. Finally, Stephens restated an “overweight” rating on shares of Bank of Hawaii in a report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.80.

Insider Buying and Selling

In other Bank of Hawaii news, CEO Peter S. Ho sold 15,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $67.87, for a total value of $1,018,050.00. Following the completion of the sale, the chief executive officer owned 156,774 shares in the company, valued at approximately $10,640,251.38. This trade represents a 8.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.07% of the stock is owned by insiders.

Bank of Hawaii Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.