Piper Sandler Cuts Bank of Hawaii (NYSE:BOH) Price Target to $60.00

Bank of Hawaii (NYSE:BOH) had its price objective dropped by stock analysts at Piper Sandler from $65.00 to $60.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target indicates a potential upside of 2.28% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Bank of Hawaii from $57.00 to $55.00 and set an “underperform” rating for the company in a report on Tuesday, January 23rd. Barclays started coverage on shares of Bank of Hawaii in a report on Friday, March 8th. They set an “underweight” rating and a $51.00 price objective for the company. Jefferies Financial Group cut their price objective on shares of Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating for the company in a report on Monday, April 8th. Finally, StockNews.com raised shares of Bank of Hawaii to a “sell” rating in a report on Thursday, January 25th. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $52.20.

Bank of Hawaii Price Performance

BOH opened at $58.66 on Tuesday. Bank of Hawaii has a 52-week low of $30.83 and a 52-week high of $75.19. The stock has a market capitalization of $2.33 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.70 and a current ratio of 0.70. The company’s 50-day simple moving average is $60.37 and its two-hundred day simple moving average is $60.80.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, April 22nd. The bank reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). Bank of Hawaii had a net margin of 15.91% and a return on equity of 13.25%. The business had revenue of $252.64 million for the quarter, compared to analysts’ expectations of $160.79 million. During the same period in the previous year, the company earned $1.14 EPS. As a group, analysts predict that Bank of Hawaii will post 3.72 EPS for the current year.

Institutional Trading of Bank of Hawaii

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Bank of Hawaii by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 4,650,102 shares of the bank’s stock worth $336,946,000 after buying an additional 87,919 shares during the last quarter. Victory Capital Management Inc. lifted its position in Bank of Hawaii by 28.6% in the third quarter. Victory Capital Management Inc. now owns 2,652,216 shares of the bank’s stock worth $131,789,000 after buying an additional 590,492 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Bank of Hawaii by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,142,123 shares of the bank’s stock worth $82,758,000 after buying an additional 24,031 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Bank of Hawaii by 0.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 508,933 shares of the bank’s stock worth $36,877,000 after buying an additional 2,495 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Bank of Hawaii by 105.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 451,528 shares of the bank’s stock worth $32,718,000 after purchasing an additional 231,909 shares during the period. 82.18% of the stock is currently owned by institutional investors.

Bank of Hawaii Company Profile

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, overdraft lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, as well as high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.