Barclays Cuts Bank of Hawaii (NYSE:BOH) Price Target to $85.00

Bank of Hawaii (NYSE:BOH) had its price target lowered by Barclays from $88.00 to $85.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

BOH has been the subject of several other research reports. Weiss Ratings upgraded shares of Bank of Hawaii from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Benchmark assumed coverage on Bank of Hawaii in a research report on Wednesday, July 8th. They issued a “hold” rating on the stock. Stephens lifted their target price on Bank of Hawaii from $82.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Piper Sandler dropped their target price on Bank of Hawaii from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Finally, Wall Street Zen cut Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Hawaii has an average rating of “Hold” and a consensus price target of $85.80.

Bank of Hawaii Stock Up 0.3%

Shares of NYSE BOH opened at $79.83 on Tuesday. Bank of Hawaii has a 12-month low of $59.36 and a 12-month high of $86.31. The firm’s 50-day simple moving average is $80.29 and its 200 day simple moving average is $77.54. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 0.90 and a beta of 0.70.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, July 27th. The bank reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.01. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. The firm had revenue of $196.90 million during the quarter, compared to analysts’ expectations of $199.51 million. During the same quarter last year, the company posted $1.06 EPS. On average, research analysts expect that Bank of Hawaii will post 5.9 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.5%. Bank of Hawaii’s dividend payout ratio is 56.57%.

Institutional Investors Weigh In On Bank of Hawaii

A number of institutional investors have recently made changes to their positions in BOH. Royal Bank of Canada increased its holdings in Bank of Hawaii by 16.4% in the first quarter. Royal Bank of Canada now owns 26,241 shares of the bank’s stock valued at $1,808,000 after purchasing an additional 3,689 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Bank of Hawaii by 177.5% during the first quarter. AQR Capital Management LLC now owns 23,818 shares of the bank’s stock worth $1,617,000 after buying an additional 15,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Bank of Hawaii by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank’s stock worth $1,605,000 after buying an additional 1,027 shares during the period. Intech Investment Management LLC grew its position in shares of Bank of Hawaii by 35.8% during the 1st quarter. Intech Investment Management LLC now owns 19,808 shares of the bank’s stock worth $1,366,000 after buying an additional 5,227 shares during the period. Finally, Strs Ohio bought a new stake in shares of Bank of Hawaii in the 1st quarter valued at about $41,000. 82.18% of the stock is owned by institutional investors and hedge funds.

About Bank of Hawaii

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.