Bank of Hawaii (NYSE:BOH) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Bank of Hawaii (NYSE:BOH) from a hold rating to a moderate buy rating in a report released on Monday morning, Marketbeat.com reports. They currently have $85.00 target price on the bank’s stock.

Several other brokerages have also recently issued reports on BOH. Piper Sandler decreased their price objective on Bank of Hawaii from $85.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, October 1st. Weiss Ratings lowered shares of Bank of Hawaii from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, October 19th. Barclays cut their target price on shares of Bank of Hawaii from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 28th. Benchmark reaffirmed a “hold” rating on shares of Bank of Hawaii in a report on Tuesday, July 28th. Finally, Stephens decreased their price target on shares of Bank of Hawaii from $82.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, November 2nd. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of Hawaii currently has an average rating of “Hold” and a consensus target price of $79.80.

Bank of Hawaii Stock Down 0.9%

Shares of NYSE BOH opened at $69.85 on Monday. The stock has a market cap of $2.74 billion, a P/E ratio of 12.36, a PEG ratio of 0.76 and a beta of 0.72. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. Bank of Hawaii has a 12-month low of $62.54 and a 12-month high of $86.31. The business’s fifty day simple moving average is $70.84 and its 200-day simple moving average is $76.27.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, October 26th. The bank reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.02). Bank of Hawaii had a net margin of 22.89% and a return on equity of 16.35%. The company had revenue of $198.76 million during the quarter, compared to analysts’ expectations of $202.59 million. During the same quarter last year, the business posted $1.20 earnings per share. As a group, equities analysts predict that Bank of Hawaii will post 5.86 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, November 30th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, November 30th. Bank of Hawaii’s payout ratio is currently 49.56%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC lifted its stake in Bank of Hawaii by 66.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 63,217 shares of the bank’s stock valued at $5,152,000 after buying an additional 25,274 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Bank of Hawaii in the second quarter valued at approximately $470,538,000. Legal & General Group Plc purchased a new position in shares of Bank of Hawaii during the second quarter worth approximately $7,646,000. Congress Asset Management Co. grew its position in shares of Bank of Hawaii by 22.1% during the third quarter. Congress Asset Management Co. now owns 194,081 shares of the bank’s stock worth $13,376,000 after acquiring an additional 35,106 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Bank of Hawaii during the second quarter worth approximately $5,111,000. 82.18% of the stock is owned by hedge funds and other institutional investors.

Bank of Hawaii Company Profile

Bank of Hawaii Corporation is a bank holding company headquartered in Honolulu. Founded in 1897, it provides banking and financial services to individuals, businesses and public-sector organizations, primarily in Hawaii. The company offers consumer banking services such as checking and savings accounts, certificates of deposit, mortgages, personal loans and credit cards. It also provides commercial banking, including business lending, deposit accounts and cash management services. Additional services include wealth management, investment and trust services.