Bank of Hawaii (NYSE:BOH) Sets New 1-Year High – What’s Next?

Bank of Hawaii Corporation (NYSE:BOH)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $78.64 and last traded at $78.1050, with a volume of 12737 shares trading hands. The stock had previously closed at $77.39.

Analyst Upgrades and Downgrades

Several research analysts have commented on BOH shares. Barclays upped their price objective on shares of Bank of Hawaii from $75.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Bank of Hawaii in a research note on Monday, December 29th. DA Davidson raised their price objective on shares of Bank of Hawaii from $73.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, January 27th. Wall Street Zen raised Bank of Hawaii from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Zacks Research upgraded Bank of Hawaii from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Hawaii currently has an average rating of “Moderate Buy” and a consensus target price of $81.80.

Bank of Hawaii Stock Performance

The firm has a market cap of $3.13 billion, a P/E ratio of 17.06, a P/E/G ratio of 0.82 and a beta of 0.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.70. The business’s 50-day simple moving average is $70.85 and its 200 day simple moving average is $67.21.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, January 26th. The bank reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. The company had revenue of $189.65 million for the quarter, compared to the consensus estimate of $184.83 million. Bank of Hawaii had a return on equity of 14.42% and a net margin of 19.30%.During the same quarter in the prior year, the company earned $0.85 earnings per share. As a group, equities analysts predict that Bank of Hawaii Corporation will post 3.97 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, February 27th. Bank of Hawaii’s dividend payout ratio (DPR) is currently 60.61%.

Insider Activity at Bank of Hawaii

In related news, CEO Peter S. Ho sold 15,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.87, for a total value of $1,018,050.00. Following the transaction, the chief executive officer directly owned 156,774 shares of the company’s stock, valued at approximately $10,640,251.38. This trade represents a 8.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.07% of the stock is owned by company insiders.

Institutional Trading of Bank of Hawaii

A number of hedge funds and other institutional investors have recently modified their holdings of BOH. Federated Hermes Inc. increased its holdings in Bank of Hawaii by 1,736.0% in the 3rd quarter. Federated Hermes Inc. now owns 35,380 shares of the bank’s stock valued at $2,322,000 after acquiring an additional 33,453 shares during the last quarter. Peterson Wealth Services grew its position in shares of Bank of Hawaii by 4,266.5% during the third quarter. Peterson Wealth Services now owns 17,466 shares of the bank’s stock valued at $1,146,000 after purchasing an additional 17,066 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Bank of Hawaii in the second quarter worth about $3,222,000. Capital Fund Management S.A. purchased a new stake in shares of Bank of Hawaii in the second quarter worth about $2,238,000. Finally, Norges Bank purchased a new stake in shares of Bank of Hawaii in the second quarter worth about $30,569,000. 82.18% of the stock is owned by hedge funds and other institutional investors.

About Bank of Hawaii

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.