Bank of Hawaii (NYSE:BOH) Downgraded by Piper Sandler to “Underweight”

Piper Sandler lowered shares of Bank of Hawaii (NYSE:BOH) from a neutral rating to an underweight rating in a report released on Monday morning, Marketbeat Ratings reports. The firm currently has $61.00 target price on the bank’s stock, down from their previous target price of $70.00.

Several other research analysts have also recently issued reports on BOH. DA Davidson raised their target price on shares of Bank of Hawaii from $63.00 to $70.00 and gave the stock a neutral rating in a report on Monday, July 29th. 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. 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, Keefe, Bruyette & Woods lifted their price target on shares of Bank of Hawaii from $58.00 to $60.00 and gave the company an underperform rating in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat, Bank of Hawaii currently has a consensus rating of Reduce and an average price target of $59.00.

Bank of Hawaii Stock Up 1.6 %

NYSE:BOH opened at $64.48 on Monday. The company’s 50 day moving average is $61.48 and its two-hundred day moving average is $60.44. The company has a market cap of $2.56 billion, a PE ratio of 16.62 and a beta of 1.06. Bank of Hawaii has a twelve month low of $45.56 and a twelve month high of $75.19. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, July 22nd. The bank reported $0.81 earnings per share (EPS) 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 firm had revenue of $255.62 million during the quarter, compared to analyst estimates of $157.12 million. During the same period in the previous year, the company earned $1.12 earnings per share. Analysts anticipate that Bank of Hawaii will post 3.37 EPS for the current year.

Bank of Hawaii Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders 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 dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, August 30th. Bank of Hawaii’s dividend payout ratio is presently 72.16%.

Insider Buying and Selling

In related news, insider Taryn L. Salmon sold 2,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $67.80, for a total transaction of $160,279.20. Following the transaction, the insider now directly owns 10,785 shares in the company, valued at $731,223. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.11% of the stock is owned by company insiders.

Institutional Trading of Bank of Hawaii

A number of hedge funds and other institutional investors have recently modified their holdings of BOH. Vanguard Group Inc. raised its position in Bank of Hawaii by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 4,650,102 shares of the bank’s stock valued at $336,946,000 after purchasing an additional 87,919 shares during the period. Victory Capital Management Inc. raised its holdings in Bank of Hawaii by 13.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock valued at $93,533,000 after buying an additional 189,878 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Bank of Hawaii by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,142,123 shares of the bank’s stock valued at $82,758,000 after buying an additional 24,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Bank of Hawaii by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock worth $45,167,000 after buying an additional 98,465 shares during the period. Finally, Swedbank AB increased its position in shares of Bank of Hawaii by 3.6% during the second quarter. Swedbank AB now owns 725,000 shares of the bank’s stock valued at $41,477,000 after acquiring an additional 25,000 shares during the last quarter. 82.18% of the stock is owned by institutional investors and hedge funds.

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.