Bank of Hawaii (NYSE:BOH) Cut to Underweight at Piper Sandler

Piper Sandler downgraded shares of Bank of Hawaii (NYSE:BOH) from a neutral rating to an underweight rating in a research report report published on Monday, Marketbeat reports. They currently have $61.00 target price on the bank’s stock, down from their previous target price of $70.00.

A number of other equities research analysts have also recently weighed in on the company. Jefferies Financial Group boosted their price objective on Bank of Hawaii from $53.00 to $54.00 and gave the company a hold rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price objective on Bank of Hawaii from $58.00 to $60.00 and gave the company an underperform rating in a research note on Tuesday, July 23rd. Barclays reduced their price objective 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. DA Davidson boosted their price objective on Bank of Hawaii from $63.00 to $70.00 and gave the company a neutral rating in a research note on Monday, July 29th. Finally, StockNews.com upgraded Bank of Hawaii to a sell rating in a research note on Thursday, May 30th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Reduce and a consensus target price of $59.00.

Bank of Hawaii Price Performance

BOH stock opened at $63.44 on Monday. The business has a 50 day moving average price of $61.33 and a 200 day moving average price of $60.41. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 16.35 and a beta of 1.06. Bank of Hawaii has a fifty-two week low of $45.56 and a fifty-two week high of $75.19. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44.

Bank of Hawaii (NYSE:BOH) last posted its 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 return on equity of 12.25% and a net margin of 14.54%. The business had revenue of $255.62 million for the quarter, compared to analysts’ expectations of $157.12 million. During the same quarter in the previous year, the firm earned $1.12 EPS. Equities research analysts anticipate that Bank of Hawaii will post 3.37 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The business 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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, August 30th. Bank of Hawaii’s dividend payout ratio (DPR) is presently 72.16%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its holdings in Bank of Hawaii by 299.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 44,694 shares of the bank’s stock valued at $2,788,000 after purchasing an additional 33,495 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Bank of Hawaii by 105.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 451,528 shares of the bank’s stock valued at $32,718,000 after purchasing an additional 231,909 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Bank of Hawaii in the first quarter valued at $696,000. TIAA Trust National Association acquired a new stake in Bank of Hawaii in the first quarter valued at $2,357,000. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 purchasing an additional 24,031 shares during the last quarter. Institutional investors and hedge funds 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.