Bank of Hawaii (NYSE:BOH) Stock Price Down 3.8% – Here’s What Happened

Bank of Hawaii Corporation (NYSE:BOH)’s stock price traded down 3.8% on Wednesday . The company traded as low as $69.90 and last traded at $67.50. Approximately 123,003 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 419,344 shares. The stock had previously closed at $70.19.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen lowered shares of Bank of Hawaii from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bank of Hawaii in a research report on Monday. Barclays increased their price objective on Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Tuesday, October 28th. Finally, DA Davidson restated a “neutral” rating and set a $70.00 target price on shares of Bank of Hawaii in a report on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $71.25.

Bank of Hawaii Trading Down 3.8%

The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 0.75 and a beta of 0.75. The business has a 50-day moving average of $65.84 and a two-hundred day moving average of $66.24.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Tuesday, October 28th. The bank reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Bank of Hawaii had a return on equity of 13.33% and a net margin of 17.41%.The company had revenue of $182.64 million during the quarter, compared to the consensus estimate of $180.95 million. During the same quarter last year, the company earned $0.93 EPS. Research analysts predict that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, November 28th. Bank of Hawaii’s payout ratio is 68.63%.

Hedge Funds Weigh In On Bank of Hawaii

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its stake in shares of Bank of Hawaii by 150.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 450 shares of the bank’s stock valued at $30,000 after purchasing an additional 270 shares during the period. Quarry LP raised its stake in Bank of Hawaii by 1,497.2% during the third quarter. Quarry LP now owns 575 shares of the bank’s stock worth $38,000 after acquiring an additional 539 shares in the last quarter. Strs Ohio acquired a new position in Bank of Hawaii during the first quarter worth $41,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Bank of Hawaii by 461.3% during the second quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $42,000 after acquiring an additional 512 shares during the period. Finally, State of Wyoming boosted its stake in shares of Bank of Hawaii by 8,220.0% in the 2nd quarter. State of Wyoming now owns 832 shares of the bank’s stock valued at $56,000 after purchasing an additional 822 shares in the last quarter. 82.18% of the stock is owned by institutional investors.

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.