Bank of Hawaii Co. (NYSE:BOH) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Bank of Hawaii Co. (NYSE:BOH) have received a consensus recommendation of “Reduce” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $71.83.

BOH has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on Bank of Hawaii from $74.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler upped their price objective on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Barclays upped their price objective on Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. DA Davidson upped their price objective 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. Finally, Stephens initiated coverage on Bank of Hawaii in a research report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price objective for the company.

Bank of Hawaii Trading Down 1.3 %

BOH opened at $71.01 on Thursday. Bank of Hawaii has a 12 month low of $54.50 and a 12 month high of $82.70. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 4.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $74.95 and a 200 day moving average price of $67.86.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, October 28th. The bank reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. The firm had revenue of $265.76 million during the quarter, compared to analysts’ expectations of $160.29 million. During the same period in the previous year, the firm posted $1.17 EPS. Sell-side analysts expect that Bank of Hawaii will post 3.52 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Friday, November 29th. Bank of Hawaii’s payout ratio is currently 84.08%.

Insider Activity

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total transaction of $97,925.85. Following the completion of the sale, the insider now directly owns 13,717 shares of the company’s stock, valued at $991,327.59. This represents a 8.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.11% of the company’s stock.

Institutional Trading of Bank of Hawaii

Several institutional investors and hedge funds have recently added to or reduced their stakes in BOH. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Bank of Hawaii during the 2nd quarter valued at approximately $106,000. Point72 DIFC Ltd purchased a new position in shares of Bank of Hawaii during the 2nd quarter worth approximately $119,000. UMB Bank n.a. raised its stake in shares of Bank of Hawaii by 5,508.3% during the 3rd quarter. UMB Bank n.a. now owns 2,692 shares of the bank’s stock worth $169,000 after buying an additional 2,644 shares in the last quarter. Bridges Investment Management Inc. purchased a new position in shares of Bank of Hawaii during the 2nd quarter worth approximately $205,000. Finally, Crestwood Advisors Group LLC purchased a new position in shares of Bank of Hawaii during the 3rd quarter worth approximately $207,000. 82.18% of the stock is owned by hedge funds and other institutional investors.

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.