Stephens Cuts Bank of Hawaii (NYSE:BOH) Price Target to $76.00

Bank of Hawaii (NYSE:BOH) had its price objective lowered by Stephens from $78.00 to $76.00 in a research note released on Tuesday,Benzinga reports. Stephens currently has an overweight rating on the bank’s stock.

Separately, Barclays increased their target price on Bank of Hawaii from $67.00 to $68.00 and gave the company an “underweight” rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $74.40.

Bank of Hawaii Price Performance

BOH stock opened at $61.85 on Tuesday. Bank of Hawaii has a one year low of $57.44 and a one year high of $82.70. The firm has a 50-day moving average of $67.06 and a two-hundred day moving average of $68.37. The firm has a market capitalization of $2.46 billion, a PE ratio of 16.23, a P/E/G ratio of 1.00 and a beta of 0.77. The company has a current ratio of 0.70, a quick ratio of 0.71 and a debt-to-equity ratio of 0.40.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, July 28th. The bank reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Bank of Hawaii had a net margin of 16.30% and a return on equity of 12.67%. The business had revenue of $174.48 million for the quarter, compared to analyst estimates of $177.82 million. During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, analysts forecast that Bank of Hawaii will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.80 dividend on an annualized basis and a yield of 4.5%. Bank of Hawaii’s payout ratio is presently 73.49%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. acquired a new stake in shares of Bank of Hawaii during the 4th quarter valued at $54,309,000. 140 Summer Partners LP purchased a new stake in shares of Bank of Hawaii during the first quarter worth $41,633,000. Ameriprise Financial Inc. boosted its position in Bank of Hawaii by 558.1% during the fourth quarter. Ameriprise Financial Inc. now owns 646,890 shares of the bank’s stock valued at $46,084,000 after purchasing an additional 548,599 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Bank of Hawaii by 23.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,180,744 shares of the bank’s stock valued at $150,406,000 after purchasing an additional 418,055 shares during the last quarter. Finally, Norges Bank purchased a new position in Bank of Hawaii in the fourth quarter valued at about $27,495,000. 82.18% of the stock is owned by hedge funds and other 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.