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

Bank of Hawaii (NYSE:BOH) had its price objective trimmed by Piper Sandler from $65.00 to $60.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

A number of other analysts have also issued reports on BOH. Keefe, Bruyette & Woods decreased their price target on Bank of Hawaii from $57.00 to $55.00 and set an underperform rating on the stock in a research note on Tuesday, January 23rd. StockNews.com upgraded shares of Bank of Hawaii to a sell rating in a research note on Thursday, January 25th. Barclays began coverage on Bank of Hawaii in a research note on Friday, March 8th. They set an underweight rating and a $51.00 price objective on the stock. Finally, Jefferies Financial Group lowered their price objective on Bank of Hawaii from $67.00 to $62.00 and set a hold rating for the company in a research note on Monday, April 8th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Reduce and an average target price of $52.20.

Bank of Hawaii Stock Down 0.4 %

Bank of Hawaii stock opened at $58.20 on Tuesday. The company has a market cap of $2.31 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06. Bank of Hawaii has a 1-year low of $30.83 and a 1-year high of $75.19. The stock’s 50 day moving average price is $60.41 and its 200 day moving average price is $60.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Monday, April 22nd. The bank reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The firm had revenue of $252.64 million during the quarter, compared to analysts’ expectations of $160.79 million. Bank of Hawaii had a net margin of 17.35% and a return on equity of 14.35%. During the same quarter in the prior year, the business earned $1.14 EPS. On average, sell-side analysts predict that Bank of Hawaii will post 3.72 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Friday, May 31st. Bank of Hawaii’s dividend payout ratio is presently 67.47%.

Hedge Funds Weigh In On Bank of Hawaii

A number of hedge funds and other institutional investors have recently modified their holdings of BOH. International Assets Investment Management LLC purchased a new stake in shares of Bank of Hawaii during the fourth quarter worth $8,952,000. FMR LLC grew its stake in shares of Bank of Hawaii by 56.4% in the 3rd quarter. FMR LLC now owns 53,998 shares of the bank’s stock valued at $2,683,000 after purchasing an additional 19,480 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Bank of Hawaii by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,118,092 shares of the bank’s stock valued at $55,558,000 after purchasing an additional 39,512 shares in the last quarter. North Reef Capital Management LP acquired a new position in Bank of Hawaii in the third quarter valued at about $8,479,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Bank of Hawaii by 47.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 147,749 shares of the bank’s stock worth $7,342,000 after acquiring an additional 47,282 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

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.