Keefe, Bruyette & Woods Raises Bank of Hawaii (NYSE:BOH) Price Target to $60.00

Bank of Hawaii (NYSE:BOH) had its price objective upped by Keefe, Bruyette & Woods from $58.00 to $60.00 in a report published on Tuesday, Benzinga reports. They currently have an underperform rating on the bank’s stock.

Other equities research analysts have also issued research reports about the company. Piper Sandler dropped their price target on Bank of Hawaii from $65.00 to $60.00 and set a neutral rating on the stock in a research report on Tuesday, April 23rd. StockNews.com upgraded shares of Bank of Hawaii to a sell rating in a report on Thursday, May 30th. Barclays cut their price target on shares of Bank of Hawaii from $51.00 to $50.00 and set an underweight rating on the stock in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group raised their price objective on shares of Bank of Hawaii from $53.00 to $54.00 and gave the stock a hold rating in a report on Wednesday, July 3rd. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Reduce and a consensus target price of $58.50.

Bank of Hawaii Trading Down 0.6 %

BOH stock traded down $0.44 during midday trading on Tuesday, reaching $67.90. The company’s stock had a trading volume of 51,510 shares, compared to its average volume of 320,121. The business’s 50-day simple moving average is $58.67 and its 200-day simple moving average is $60.51. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.44. Bank of Hawaii has a 52 week low of $45.56 and a 52 week high of $75.19. The stock has a market cap of $2.70 billion, a PE ratio of 17.61 and a beta of 1.06.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, July 22nd. The bank reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. The company had revenue of $255.62 million for the quarter, compared to analyst estimates of $157.12 million. During the same quarter in the previous year, the firm posted $1.12 earnings per share. As a group, sell-side analysts expect that Bank of Hawaii will post 3.41 EPS for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Friday, August 30th. Bank of Hawaii’s dividend payout ratio is presently 72.16%.

Institutional Investors Weigh In On Bank of Hawaii

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its position in Bank of Hawaii by 299.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 44,694 shares of the bank’s stock valued at $2,788,000 after purchasing an additional 33,495 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Bank of Hawaii in the fourth quarter valued at $8,952,000. Goldman Sachs Group Inc. increased its holdings in Bank of Hawaii by 105.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 451,528 shares of the bank’s stock worth $32,718,000 after buying an additional 231,909 shares during the last quarter. SG Americas Securities LLC bought a new stake in Bank of Hawaii during the first quarter worth $696,000. Finally, TIAA Trust National Association acquired a new stake in Bank of Hawaii in the first quarter valued at $2,357,000. 82.18% of the stock is currently owned by institutional investors and hedge funds.

About Bank of Hawaii

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.