Bank of Hawaii Co. (NYSE:BOH) Given Average Rating of “Reduce” by Brokerages

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

A number of equities research analysts have commented on the company. Stephens assumed coverage on Bank of Hawaii in a report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 target price on the stock. Barclays increased their target price on Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods raised their price objective on Bank of Hawaii from $74.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. DA Davidson increased their target price 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, Piper Sandler increased their target price 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.

Bank of Hawaii Stock Performance

BOH opened at $71.01 on Thursday. The stock has a market cap of $2.82 billion, a P/E ratio of 21.32, a P/E/G 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 stock’s 50 day simple moving average is $74.95 and its 200 day simple moving average is $67.86. Bank of Hawaii has a 1-year low of $54.50 and a 1-year high of $82.70.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $265.76 million for the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $1.17 EPS. As a group, equities analysts anticipate that Bank of Hawaii will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

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

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of Bank of Hawaii stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total value of $97,925.85. Following the completion of the transaction, the insider now directly owns 13,717 shares in the company, valued at $991,327.59. The trade was a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bank of Hawaii

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Bank of Hawaii by 1.2% in the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock valued at $57,025,000 after acquiring an additional 10,357 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Bank of Hawaii by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank’s stock worth $94,872,000 after buying an additional 35,187 shares during the period. Barclays PLC boosted its position in shares of Bank of Hawaii by 91.2% during the third quarter. Barclays PLC now owns 93,504 shares of the bank’s stock worth $5,870,000 after buying an additional 44,599 shares during the period. American Century Companies Inc. boosted its position in shares of Bank of Hawaii by 8.7% during the second quarter. American Century Companies Inc. now owns 675,615 shares of the bank’s stock worth $38,652,000 after buying an additional 54,078 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Bank of Hawaii by 186.1% during the third quarter. BNP Paribas Financial Markets now owns 25,296 shares of the bank’s stock worth $1,588,000 after buying an additional 16,455 shares during the period. 82.18% of the stock is currently 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.