Keefe, Bruyette & Woods Boosts Bank of Hawaii (NYSE:BOH) Price Target to $60.00

Bank of Hawaii (NYSE:BOH) had its price objective increased by Keefe, Bruyette & Woods from $58.00 to $60.00 in a research report released on Tuesday, Benzinga reports. They currently have an underperform rating on the bank’s stock.

Several other analysts have also issued reports on the company. StockNews.com raised Bank of Hawaii to a sell rating in a research note on Thursday, May 30th. Piper Sandler cut their target price on Bank of Hawaii from $65.00 to $60.00 and set a neutral rating for the company in a research note on Tuesday, April 23rd. Jefferies Financial Group upped their target price on Bank of Hawaii from $53.00 to $54.00 and gave the stock a hold rating in a research note on Wednesday, July 3rd. Finally, Barclays cut their target price on 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. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, Bank of Hawaii currently has a consensus rating of Reduce and a consensus target price of $58.50.

Bank of Hawaii Trading Up 0.7 %

Shares of Bank of Hawaii stock opened at $69.13 on Tuesday. The stock’s 50-day simple moving average is $59.16 and its 200 day simple moving average is $60.59. Bank of Hawaii has a 52-week low of $45.56 and a 52-week high of $75.19. The stock has a market capitalization of $2.75 billion, a P/E ratio of 17.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.70 and a current ratio of 0.71.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Bank of Hawaii had a net margin of 14.54% and a return on equity of 12.25%. The company had revenue of $255.62 million for the quarter, compared to the consensus estimate of $157.12 million. During the same quarter in the prior year, the company earned $1.12 earnings per share. As a group, research analysts anticipate that Bank of Hawaii will post 3.4 EPS for the current year.

Bank of Hawaii Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Friday, August 30th. Bank of Hawaii’s payout ratio is 72.16%.

Insiders Place Their Bets

In other news, insider Taryn L. Salmon sold 2,364 shares of Bank of Hawaii stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $67.80, for a total value of $160,279.20. Following the completion of the transaction, the insider now owns 10,785 shares in the company, valued at approximately $731,223. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On Bank of Hawaii

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in Bank of Hawaii in the fourth quarter valued at about $41,000. Quest Partners LLC purchased a new position in shares of Bank of Hawaii in the fourth quarter worth about $41,000. Strs Ohio purchased a new position in shares of Bank of Hawaii in the fourth quarter worth about $50,000. Clearbridge Investments LLC purchased a new position in shares of Bank of Hawaii in the fourth quarter worth about $217,000. Finally, Crestwood Advisors Group LLC acquired a new stake in Bank of Hawaii during the fourth quarter worth about $227,000. Institutional investors own 82.18% of the company’s stock.

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.