Bank of Hawaii (NYSE:BOH) Hits New 12-Month High – Should You Buy?

Shares of Bank of Hawaii Corporation (NYSE:BOH) reached a new 52-week high during trading on Friday . The company traded as high as $78.64 and last traded at $78.1050, with a volume of 12737 shares traded. The stock had previously closed at $77.39.

Wall Street Analysts Forecast Growth

BOH has been the topic of a number of research reports. Barclays upped their price target on shares of Bank of Hawaii from $75.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 27th. Stephens reaffirmed an “overweight” rating on shares of Bank of Hawaii in a research report on Tuesday, January 27th. Keefe, Bruyette & Woods upgraded Bank of Hawaii from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $75.00 to $91.00 in a research note on Tuesday, January 27th. Wall Street Zen upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, DA Davidson boosted their target price on shares of Bank of Hawaii from $73.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $81.80.

Bank of Hawaii Stock Performance

The stock’s fifty day moving average price is $70.59 and its two-hundred day moving average price is $67.13. The company has a market cap of $3.13 billion, a P/E ratio of 17.01, a P/E/G ratio of 0.79 and a beta of 0.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, January 26th. The bank reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.14. The company had revenue of $189.65 million during the quarter, compared to analysts’ expectations of $184.83 million. Bank of Hawaii had a return on equity of 14.42% and a net margin of 19.30%.During the same quarter in the previous year, the firm earned $0.85 EPS. As a group, equities analysts predict that Bank of Hawaii Corporation will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, February 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. Bank of Hawaii’s dividend payout ratio is 60.61%.

Insider Buying and Selling at Bank of Hawaii

In related news, CEO Peter S. Ho sold 15,000 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.87, for a total transaction of $1,018,050.00. Following the sale, the chief executive officer owned 156,774 shares in the company, valued at $10,640,251.38. The trade was a 8.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. DAVENPORT & Co LLC increased its stake in shares of Bank of Hawaii by 11.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 23,832 shares of the bank’s stock valued at $1,609,000 after acquiring an additional 2,477 shares in the last quarter. Federated Hermes Inc. grew its holdings in Bank of Hawaii by 1,736.0% in the third quarter. Federated Hermes Inc. now owns 35,380 shares of the bank’s stock worth $2,322,000 after purchasing an additional 33,453 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Bank of Hawaii in the second quarter valued at $3,222,000. Capital Fund Management S.A. bought a new position in shares of Bank of Hawaii during the 2nd quarter worth about $2,238,000. Finally, Peterson Wealth Services boosted its position in shares of Bank of Hawaii by 4,266.5% during the 3rd quarter. Peterson Wealth Services now owns 17,466 shares of the bank’s stock worth $1,146,000 after purchasing an additional 17,066 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

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.