Bank of Hawaii Corporation (NYSE:BOH) Given Average Recommendation of “Hold” by Brokerages

Shares of Bank of Hawaii Corporation (NYSE:BOH) have been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $85.00.

BOH has been the subject of several analyst reports. Stephens cut Bank of Hawaii from an “overweight” rating to an “equal weight” rating and set a $85.00 price target for the company. in a research note on Thursday, August 6th. Keefe, Bruyette & Woods dropped their price objective on shares of Bank of Hawaii from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Monday, August 3rd. Barclays cut their price objective on shares of Bank of Hawaii from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 28th. Benchmark reaffirmed a “hold” rating on shares of Bank of Hawaii in a report on Tuesday, July 28th. Finally, DA Davidson boosted their price target on shares of Bank of Hawaii from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th.

Bank of Hawaii Stock Performance

Shares of BOH stock traded down $0.29 during trading hours on Friday, hitting $74.29. The stock had a trading volume of 88,851 shares, compared to its average volume of 395,294. The firm has a market capitalization of $2.93 billion, a PE ratio of 13.86, a PEG ratio of 0.85 and a beta of 0.70. Bank of Hawaii has a twelve month low of $59.36 and a twelve month high of $86.31. The stock’s 50 day moving average is $79.16 and its 200 day moving average is $78.07. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, July 27th. The bank reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.01. The company had revenue of $196.90 million for the quarter, compared to analyst estimates of $199.51 million. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. During the same period in the previous year, the business posted $1.06 earnings per share. As a group, research analysts forecast that Bank of Hawaii will post 5.91 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a dividend of $0.70 per share. The ex-dividend date was Monday, August 31st. This represents a $2.80 annualized dividend and a yield of 3.8%. Bank of Hawaii’s payout ratio is presently 52.24%.

Insider Activity

In other news, insider Marco Abbruzzese sold 2,441 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $81.59, for a total value of $199,161.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC boosted its position in shares of Bank of Hawaii by 229.6% in the fourth quarter. AlphaQuest LLC now owns 20,293 shares of the bank’s stock worth $1,387,000 after acquiring an additional 14,136 shares during the last quarter. Deutsche Bank AG purchased a new stake in Bank of Hawaii in the second quarter valued at approximately $5,111,000. California State Teachers Retirement System increased its position in Bank of Hawaii by 37.3% during the first quarter. California State Teachers Retirement System now owns 51,059 shares of the bank’s stock worth $3,791,000 after purchasing an additional 13,864 shares during the last quarter. BlackRock Inc. acquired a new position in Bank of Hawaii during the second quarter worth approximately $470,538,000. Finally, Canada Pension Plan Investment Board purchased a new position in Bank of Hawaii during the second quarter worth approximately $1,125,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

About Bank of Hawaii

Bank of Hawaii Corporation is a regional financial services company headquartered in Honolulu, Hawaii. Through its principal subsidiary, Bank of Hawaii, the company provides banking and financial services to individuals, businesses, government entities and institutional customers.

The bank offers deposit accounts, consumer and commercial loans, residential and commercial mortgages, credit cards and treasury management services. It also provides wealth management, trust, investment management and brokerage services, along with other financial products designed for personal and business customers.

Founded in 1897, Bank of Hawaii has a long history of serving the Pacific region.