Bank of Hawaii (NYSE:BOH) Lowered to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Bank of Hawaii (NYSE:BOH) from a strong-buy rating to a hold rating in a report released on Monday,Zacks.com reports.

BOH has been the topic of several other reports. Barclays boosted their target price on shares of Bank of Hawaii from $83.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Keefe, Bruyette & Woods upgraded shares of Bank of Hawaii from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $75.00 to $91.00 in a research report on Tuesday, January 27th. DA Davidson boosted their target price on shares of Bank of Hawaii from $73.00 to $81.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 27th. Wall Street Zen upgraded shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Piper Sandler decreased their target price on shares of Bank of Hawaii from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.80.

Bank of Hawaii Stock Performance

BOH traded up $1.93 during trading on Monday, hitting $78.43. The stock had a trading volume of 29,265 shares, compared to its average volume of 422,963. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $3.12 billion, a P/E ratio of 16.96, a PEG ratio of 0.76 and a beta of 0.72. The company’s 50-day moving average price is $75.67 and its 200 day moving average price is $70.07. Bank of Hawaii has a twelve month low of $57.44 and a twelve month high of $80.61.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, January 26th. The bank reported $1.39 EPS for the quarter, topping the consensus estimate of $1.25 by $0.14. The company had revenue of $189.65 million for the quarter, compared to analyst estimates of $184.83 million. Bank of Hawaii had a net margin of 19.30% and a return on equity of 14.42%. During the same period in the previous year, the firm earned $0.85 EPS. On average, equities research analysts forecast that Bank of Hawaii will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a $0.70 dividend. The ex-dividend date was Friday, February 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. Bank of Hawaii’s payout ratio is currently 60.61%.

Institutional Investors Weigh In On Bank of Hawaii

Several institutional investors and hedge funds have recently made changes to their positions in BOH. Federated Hermes Inc. raised its stake in Bank of Hawaii by 1,736.0% in the 3rd quarter. Federated Hermes Inc. now owns 35,380 shares of the bank’s stock valued at $2,322,000 after purchasing an additional 33,453 shares during the last quarter. Peterson Wealth Services raised its stake in Bank of Hawaii by 4,266.5% in the 3rd quarter. Peterson Wealth Services now owns 17,466 shares of the bank’s stock valued at $1,146,000 after purchasing an additional 17,066 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Bank of Hawaii by 14.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 155,147 shares of the bank’s stock valued at $10,184,000 after purchasing an additional 19,815 shares during the last quarter. Numerai GP LLC acquired a new position in Bank of Hawaii in the 3rd quarter valued at about $5,893,000. Finally, Tudor Investment Corp ET AL raised its stake in Bank of Hawaii by 33.6% in the 3rd quarter. Tudor Investment Corp ET AL now owns 105,845 shares of the bank’s stock valued at $6,948,000 after purchasing an additional 26,634 shares during the last quarter. 82.18% of the stock is currently owned by hedge funds and other 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.