Bank of Hawaii (NYSE:BOH) Reaches New 1-Year High – Here’s What Happened

Shares of Bank of Hawaii Co. (NYSE:BOH) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $82.36 and last traded at $81.96, with a volume of 240974 shares trading hands. The stock had previously closed at $80.28.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays lifted their price objective on Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Piper Sandler increased their price objective on shares of Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, DA Davidson increased their price target on Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $64.80.

Bank of Hawaii Stock Up 0.3 %

The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. The company has a 50 day simple moving average of $69.18 and a two-hundred day simple moving average of $64.25. The firm has a market capitalization of $3.20 billion, a P/E ratio of 24.11, a P/E/G ratio of 5.27 and a beta of 1.03.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.93 EPS for the quarter, beating the consensus estimate of $0.82 by $0.11. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. The business had revenue of $265.76 million during the quarter, compared to the consensus estimate of $160.29 million. During the same quarter in the prior year, the firm earned $1.17 EPS. On average, equities analysts predict that Bank of Hawaii Co. will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, November 29th. Bank of Hawaii’s dividend payout ratio is 84.08%.

Insiders Place Their Bets

In other news, insider Matthew Emerson sold 1,355 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the sale, the insider now owns 13,717 shares of the company’s stock, valued at approximately $991,327.59. This represents a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bank of Hawaii

A number of large investors have recently bought and sold shares of BOH. State Street Corp grew its stake in Bank of Hawaii by 5.0% in the third quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock worth $140,897,000 after purchasing an additional 106,717 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Bank of Hawaii by 13.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock worth $93,533,000 after buying an additional 189,878 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Bank of Hawaii by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank’s stock valued at $94,872,000 after buying an additional 35,187 shares during the period. Geode Capital Management LLC increased its stake in shares of Bank of Hawaii by 1.2% during the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock valued at $57,025,000 after buying an additional 10,357 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Bank of Hawaii by 14.2% in the second quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock worth $45,167,000 after acquiring an additional 98,465 shares during the period. Hedge funds and other institutional investors own 82.18% of the company’s stock.

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.