Bank of Hawaii (NYSE:BOH) Price Target Cut to $50.00

Bank of Hawaii (NYSE:BOH) had its target price reduced by research analysts at Barclays from $51.00 to $50.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. Barclays‘s price target would suggest a potential downside of 14.30% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Piper Sandler dropped their price target on Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday. StockNews.com raised Bank of Hawaii to a “sell” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods upped 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. Finally, Jefferies Financial Group reduced their target price on Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating for the company in a report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $52.20.

Bank of Hawaii Stock Performance

Shares of NYSE BOH traded down $0.07 during midday trading on Tuesday, hitting $58.34. 56,735 shares of the company’s stock were exchanged, compared to its average volume of 340,092. 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 has a 12 month low of $30.83 and a 12 month high of $75.19. The company’s 50 day moving average price is $60.45 and its 200 day moving average price is $60.74. The firm has a market capitalization of $2.32 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, April 22nd. The bank reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). Bank of Hawaii had a return on equity of 14.35% and a net margin of 17.35%. During the same period in the prior year, the company earned $1.14 EPS. As a group, analysts predict that Bank of Hawaii will post 3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank of Hawaii

A number of large investors have recently made changes to their positions in BOH. Victory Capital Management Inc. boosted its holdings in shares of Bank of Hawaii by 28.6% in the third quarter. Victory Capital Management Inc. now owns 2,652,216 shares of the bank’s stock worth $131,789,000 after acquiring an additional 590,492 shares during the period. Norges Bank bought a new position in shares of Bank of Hawaii in the fourth quarter worth $29,508,000. Newport Trust Company LLC bought a new stake in Bank of Hawaii during the third quarter valued at $20,170,000. Goldman Sachs Group Inc. boosted its stake in Bank of Hawaii by 105.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 451,528 shares of the bank’s stock valued at $32,718,000 after buying an additional 231,909 shares during the period. Finally, North Reef Capital Management LP bought a new stake in Bank of Hawaii during the third quarter valued at $8,479,000. 82.18% of the stock is owned by institutional investors.

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.