Bank of Hawaii (NYSE:BOH) Lifted to Market Perform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Bank of Hawaii (NYSE:BOH) from an underperform rating to a market perform rating in a research report report published on Wednesday, Marketbeat reports. They currently have $67.00 target price on the bank’s stock, up from their prior target price of $60.00.

BOH has been the topic of a number of other reports. Jefferies Financial Group boosted their target price on Bank of Hawaii from $53.00 to $54.00 and gave the stock a hold rating in a research report on Wednesday, July 3rd. DA Davidson boosted their price objective on Bank of Hawaii from $63.00 to $70.00 and gave the stock a neutral rating in a report on Monday, July 29th. Finally, Piper Sandler cut shares of Bank of Hawaii from a neutral rating to an underweight rating and decreased their target price for the stock from $70.00 to $61.00 in a report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, Bank of Hawaii currently has a consensus rating of Hold and a consensus target price of $60.40.

Bank of Hawaii Stock Performance

NYSE:BOH opened at $63.58 on Wednesday. The company has a 50-day moving average of $64.92 and a 200-day moving average of $61.16. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 16.21 and a beta of 1.05. 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 has a twelve month low of $45.56 and a twelve month high of $75.19.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, July 22nd. The bank reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The business had revenue of $255.62 million for the quarter, compared to the consensus estimate of $157.12 million. Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. During the same quarter in the previous year, the business posted $1.12 earnings per share. Analysts forecast that Bank of Hawaii will post 3.45 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, August 30th. This represents a $2.80 annualized dividend and a yield of 4.40%. Bank of Hawaii’s dividend payout ratio (DPR) is presently 72.16%.

Insider Transactions at Bank of Hawaii

In other Bank of Hawaii news, insider Taryn L. Salmon sold 2,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $67.80, for a total value of $160,279.20. Following the completion of the sale, the insider now owns 10,785 shares in the company, valued at $731,223. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Illinois Municipal Retirement Fund grew its stake in shares of Bank of Hawaii by 0.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 21,787 shares of the bank’s stock valued at $1,359,000 after buying an additional 176 shares in the last quarter. Congress Asset Management Co. MA increased its stake in shares of Bank of Hawaii by 0.4% during the 4th quarter. Congress Asset Management Co. MA now owns 48,987 shares of the bank’s stock worth $3,550,000 after purchasing an additional 185 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Bank of Hawaii by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 11,134 shares of the bank’s stock valued at $637,000 after purchasing an additional 210 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Bank of Hawaii by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 20,000 shares of the bank’s stock valued at $1,144,000 after purchasing an additional 300 shares during the last quarter. Finally, Harrington Investments INC boosted its holdings in Bank of Hawaii by 2.0% in the second quarter. Harrington Investments INC now owns 19,706 shares of the bank’s stock worth $1,127,000 after purchasing an additional 394 shares in the last quarter. 82.18% of the stock is owned by institutional investors and hedge funds.

Bank of Hawaii Company Profile

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.