Bank of Hawaii (NYSE:BOH) Earns Overweight Rating from Analysts at Stephens

Stephens began coverage on shares of Bank of Hawaii (NYSE:BOH) in a research note published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $90.00 price objective on the bank’s stock.

Several other research firms have also issued reports on BOH. DA Davidson lifted their price target on Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Piper Sandler lifted their target price on shares of Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Barclays upped their target price on shares of Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Bank of Hawaii from $67.00 to $74.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Bank of Hawaii presently has a consensus rating of “Hold” and an average price target of $69.00.

Bank of Hawaii Stock Down 0.8 %

Shares of Bank of Hawaii stock opened at $78.98 on Wednesday. Bank of Hawaii has a 1 year low of $54.50 and a 1 year high of $82.70. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 5.28 and a beta of 1.03. The company has a 50-day moving average of $70.69 and a 200 day moving average of $64.90. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The company had revenue of $265.76 million during the quarter, compared to analyst estimates of $160.29 million. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. During the same quarter last year, the company earned $1.17 EPS. As a group, sell-side analysts anticipate that Bank of Hawaii will post 3.52 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, November 29th. This represents a $2.80 annualized dividend and a dividend yield of 3.55%. Bank of Hawaii’s payout ratio is 84.08%.

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the transaction, the insider now directly owns 13,717 shares in the company, valued at approximately $991,327.59. This trade represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bank of Hawaii

Hedge funds have recently modified their holdings of the company. Swedbank AB purchased a new position in Bank of Hawaii in the 1st quarter worth approximately $43,673,000. Victory Capital Management Inc. lifted its holdings in shares of Bank of Hawaii by 13.1% in the second quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock worth $93,533,000 after buying an additional 189,878 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Bank of Hawaii during the third quarter worth $70,960,000. State Street Corp grew its stake in Bank of Hawaii by 5.0% during the third quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock valued at $140,897,000 after acquiring an additional 106,717 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Bank of Hawaii by 14.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock valued at $45,167,000 after acquiring an additional 98,465 shares during the last quarter. 82.18% of the stock is currently 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.