Zacks Investment Research Downgrades Bank of Hawaii (BOH) to Hold
Bank of Hawaii (NYSE:BOH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The Company’s principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. “
BOH has been the subject of a number of other reports. Morgan Stanley upped their target price on Bank of Hawaii from $76.00 to $88.00 and gave the company an “underweight” rating in a research report on Wednesday, December 13th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $92.00 target price on shares of Bank of Hawaii in a research report on Friday, December 22nd. Piper Jaffray Companies reissued a “hold” rating and issued a $92.50 target price on shares of Bank of Hawaii in a research report on Tuesday, January 9th. Barclays upped their target price on Bank of Hawaii from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Compass Point raised Bank of Hawaii from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $91.92.
Bank of Hawaii (NYSE:BOH) last announced its earnings results on Monday, January 22nd. The bank reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.08). The firm had revenue of $160.63 million during the quarter, compared to analyst estimates of $162.90 million. Bank of Hawaii had a net margin of 26.80% and a return on equity of 15.48%. During the same period last year, the company earned $1.02 earnings per share. research analysts anticipate that Bank of Hawaii will post 5.19 earnings per share for the current year.
Bank of Hawaii announced that its board has authorized a share repurchase program on Monday, October 23rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
A number of institutional investors have recently bought and sold shares of the business. Flinton Capital Management LLC lifted its position in Bank of Hawaii by 14.6% during the 4th quarter. Flinton Capital Management LLC now owns 5,712 shares of the bank’s stock worth $490,000 after acquiring an additional 728 shares during the period. Raymond James & Associates lifted its position in Bank of Hawaii by 17.9% during the 4th quarter. Raymond James & Associates now owns 13,129 shares of the bank’s stock worth $1,125,000 after acquiring an additional 1,993 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in Bank of Hawaii by 7.8% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 8,340 shares of the bank’s stock worth $715,000 after acquiring an additional 600 shares during the period. Stone Ridge Asset Management LLC acquired a new stake in Bank of Hawaii during the 4th quarter worth approximately $631,000. Finally, Guggenheim Capital LLC lifted its position in Bank of Hawaii by 36.2% during the 4th quarter. Guggenheim Capital LLC now owns 9,472 shares of the bank’s stock worth $811,000 after acquiring an additional 2,520 shares during the period. 77.21% of the stock is owned by institutional investors.
Bank of Hawaii Company Profile
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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