Bank of Hawaii (NYSE:BOH) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Bank of Hawaii (NYSE:BOH) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on BOH. Keefe, Bruyette & Woods raised Bank of Hawaii from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $75.00 to $91.00 in a report on Tuesday, January 27th. Barclays boosted their target price on Bank of Hawaii from $83.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Piper Sandler dropped their target price on Bank of Hawaii from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Stephens restated an “overweight” rating on shares of Bank of Hawaii in a research report on Tuesday, January 27th. Finally, DA Davidson boosted their target price on Bank of Hawaii from $73.00 to $81.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 27th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.80.

Bank of Hawaii Stock Performance

Bank of Hawaii stock opened at $78.27 on Monday. The stock has a 50-day simple moving average of $75.76 and a 200 day simple moving average of $70.12. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. Bank of Hawaii has a 12-month low of $57.44 and a 12-month high of $80.61. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 0.76 and a beta of 0.72.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, January 26th. The bank reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. Bank of Hawaii had a return on equity of 14.42% and a net margin of 19.30%.The business had revenue of $189.65 million during the quarter, compared to analysts’ expectations of $184.83 million. During the same period in the previous year, the business posted $0.85 earnings per share. On average, research analysts anticipate that Bank of Hawaii will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $0.70 per share. The ex-dividend date was Friday, February 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.6%. Bank of Hawaii’s dividend payout ratio is presently 60.61%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BOH. Danske Bank A S acquired a new position in Bank of Hawaii during the 4th quarter valued at about $27,000. Farther Finance Advisors LLC lifted its position in Bank of Hawaii by 150.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 450 shares of the bank’s stock valued at $30,000 after purchasing an additional 270 shares during the period. SHP Wealth Management acquired a new position in Bank of Hawaii during the 4th quarter valued at about $34,000. Quarry LP lifted its position in Bank of Hawaii by 1,497.2% during the 3rd quarter. Quarry LP now owns 575 shares of the bank’s stock valued at $38,000 after purchasing an additional 539 shares during the period. Finally, Strs Ohio acquired a new position in Bank of Hawaii during the 1st quarter valued at about $41,000. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Bank of Hawaii Company Profile

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.