HONOLULU—Matthew Emerson (NYSE:EMR), Vice Chair of Bank of Hawaii Corp (NYSE:BOH), recently sold 1,355 shares of the company's common stock. The transaction, which took place on October 30, 2024, was executed at a price of $72.27 per share, amounting to a total of $97,925.
Following this sale, Emerson holds 13,717 shares in the company. The transaction was reported in a filing with the Securities and Exchange Commission and signed by Katherine Lamb on behalf of Emerson through a Power of Attorney.
In other recent news, Bank of Hawaii Corporation has reported notable growth in its Q3 2024 earnings. The bank's net income rose to $40.4 million, buoyed by an increase in net interest income and improvements in the net interest margin. Diluted earnings per share also saw an uptick, reaching $0.93.
The bank's financial strength is further indicated by a rise in loans and deposits and a robust Tier 1 capital ratio of 14.05%. In terms of future developments, Bank of Hawaii has projected a gradual increase in net interest income and anticipates a modest rise in core expenses.
The bank's outlook also includes an expected one-time charge of $2.3 million in Q4 due to a Visa (NYSE:V) conversion ratio change. Meanwhile, the bank's credit quality remains strong with low net charge-offs and stable non-performing assets. All these points to the bank's preparedness to navigate the evolving economic landscape.
InvestingPro Insights
Bank of Hawaii Corp (NYSE:BOH) has been experiencing significant market movements recently, which adds context to Matthew Emerson's recent stock sale. According to InvestingPro data, BOH has seen a substantial 1-year price total return of 53.38%, indicating strong performance over the past year. This upward trend is further supported by a 30.36% price total return over the last six months.
The company's current market capitalization stands at $2.88 billion, with a P/E ratio of 21.57, suggesting investors are willing to pay a premium for BOH's earnings. This valuation comes despite the company facing some headwinds, as revenue growth for the last twelve months as of Q3 2024 was negative at -9.38%.
InvestingPro Tips highlight that BOH has maintained dividend payments for 53 consecutive years, a testament to its financial stability and commitment to shareholder returns. The current dividend yield is 3.88%, which may be attractive to income-focused investors. Additionally, analysts predict the company will remain profitable this year, which could support the stock's valuation.
It's worth noting that InvestingPro offers 10 additional tips for BOH, providing investors with a more comprehensive analysis of the company's prospects. These insights can be particularly valuable given the recent insider sale and the company's mixed financial indicators.
HONOLULU—Matthew Emerson, Vice Chair of Bank of Hawaii Corp (NYSE:BOH), recently sold 1,355 shares of the company's common stock. The transaction, which took place on October 30, 2024, was executed at a price of $72.27 per share, amounting to a total of $97,925.
Following this sale, Emerson holds 13,717 shares in the company. The transaction was reported in a filing with the Securities and Exchange Commission and signed by Katherine Lamb on behalf of Emerson through a Power of Attorney.
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