Brokerages Set Bank of Hawaii Co. (NYSE:BOH) PT at $73.00

Shares of Bank of Hawaii Co. (NYSE:BOH) have been given an average rating of “Reduce” by the six ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $73.00.

BOH has been the topic of several recent research reports. Stephens initiated coverage on shares of Bank of Hawaii in a report on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 price objective on the stock. DA Davidson boosted their target price on shares of Bank of Hawaii from $75.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Barclays increased their price target 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. Piper Sandler boosted their price objective on Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods raised their target price 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.

Bank of Hawaii Trading Up 2.5 %

NYSE:BOH opened at $70.15 on Tuesday. The firm has a 50 day moving average of $71.42 and a 200 day moving average of $70.79. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. Bank of Hawaii has a 52 week low of $54.50 and a 52 week high of $82.70. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 20.27 and a beta of 1.01.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.02). Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. As a group, sell-side analysts anticipate that Bank of Hawaii will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.70 per share. The ex-dividend date was Friday, February 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.99%. Bank of Hawaii’s payout ratio is 80.92%.

Insider Transactions at Bank of Hawaii

In other Bank of Hawaii news, CAO Patrick M. Mcguirk sold 2,000 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $75.08, for a total transaction of $150,160.00. Following the completion of the transaction, the chief accounting officer now owns 9,173 shares of the company’s stock, valued at $688,708.84. This trade represents a 17.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Taryn L. Salmon sold 449 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $74.97, for a total value of $33,661.53. Following the transaction, the insider now owns 9,880 shares in the company, valued at $740,703.60. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On Bank of Hawaii

Several hedge funds and other institutional investors have recently made changes to their positions in BOH. Oppenheimer Asset Management Inc. raised its position in shares of Bank of Hawaii by 43.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 8,309 shares of the bank’s stock worth $522,000 after acquiring an additional 2,500 shares in the last quarter. Quest Partners LLC acquired a new stake in Bank of Hawaii during the third quarter worth approximately $1,823,000. Intech Investment Management LLC acquired a new stake in Bank of Hawaii during the third quarter worth approximately $615,000. Charles Schwab Investment Management Inc. lifted its position in shares of Bank of Hawaii by 2.4% during the 3rd 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 last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Bank of Hawaii by 10.5% in the 3rd quarter. Citigroup Inc. now owns 86,486 shares of the bank’s stock valued at $5,429,000 after buying an additional 8,207 shares in the last quarter. Hedge funds and other institutional investors 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.