Bank of Hawaii (NYSE:BOH) Price Target Cut to $60.00 by Analysts at Piper Sandler

Bank of Hawaii (NYSE:BOH) had its price objective trimmed by Piper Sandler from $65.00 to $60.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

Other equities research analysts also recently issued research reports about the stock. Barclays initiated coverage on shares of Bank of Hawaii in a research note on Friday, March 8th. They issued an underweight rating and a $51.00 target price on the stock. StockNews.com raised shares of Bank of Hawaii to a sell rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods reduced their price objective on shares of Bank of Hawaii from $57.00 to $55.00 and set an underperform rating for the company in a research note on Tuesday, January 23rd. Finally, Jefferies Financial Group dropped their price objective on Bank of Hawaii from $67.00 to $62.00 and set a hold rating on the stock in a research report on Monday, April 8th. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Reduce and a consensus price target of $52.20.

Bank of Hawaii Stock Down 0.4 %

BOH stock opened at $58.20 on Tuesday. The business’s 50-day moving average price is $60.41 and its 200-day moving average price is $60.81. The stock has a market cap of $2.31 billion, a P/E ratio of 14.02, a PEG ratio of 1.96 and a beta of 1.06. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.45. Bank of Hawaii has a twelve month low of $30.83 and a twelve month high of $75.19.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, April 22nd. The bank reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The firm had revenue of $252.64 million for the quarter, compared to the consensus estimate of $160.79 million. Bank of Hawaii had a return on equity of 14.35% and a net margin of 17.35%. During the same quarter in the previous year, the business posted $1.14 EPS. On average, equities research analysts forecast that Bank of Hawaii will post 3.72 EPS for the current year.

Bank of Hawaii Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend is Friday, May 31st. Bank of Hawaii’s dividend payout ratio (DPR) is currently 67.47%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Congress Asset Management Co. MA grew its position in 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 period. Harrington Investments INC grew its holdings in Bank of Hawaii by 1.1% during the fourth quarter. Harrington Investments INC now owns 18,694 shares of the bank’s stock worth $1,355,000 after acquiring an additional 200 shares during the period. Bleakley Financial Group LLC raised its position in Bank of Hawaii by 2.5% during the fourth quarter. Bleakley Financial Group LLC now owns 8,424 shares of the bank’s stock valued at $610,000 after acquiring an additional 206 shares in the last quarter. Covestor Ltd lifted its holdings in Bank of Hawaii by 17.1% in the third quarter. Covestor Ltd now owns 1,429 shares of the bank’s stock valued at $71,000 after acquiring an additional 209 shares during the period. Finally, Penobscot Investment Management Company Inc. boosted its position in Bank of Hawaii by 6.1% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,773 shares of the bank’s stock worth $346,000 after purchasing an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 82.18% of the company’s stock.

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.