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

Bank of Hawaii (NYSE:BOH) had its price target cut by Piper Sandler from $65.00 to $60.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the bank’s stock.

A number of other research firms have also commented on BOH. Jefferies Financial Group lowered their price target on Bank of Hawaii from $67.00 to $62.00 and set a hold rating for the company in a research report on Monday, April 8th. Keefe, Bruyette & Woods cut 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 Bank of Hawaii to a sell rating in a research note on Thursday, January 25th. Finally, Barclays began coverage on Bank of Hawaii in a research note on Friday, March 8th. They issued an underweight rating and a $51.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Reduce and a consensus target price of $52.20.

Bank of Hawaii Trading Down 0.9 %

NYSE BOH opened at $58.60 on Tuesday. Bank of Hawaii has a 1-year low of $30.83 and a 1-year high of $75.19. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $60.22 and a 200-day moving average of $60.85. The firm has a market cap of $2.33 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 2.04 and a beta of 1.06.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Friday, April 26th. The bank reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The business had revenue of $252.64 million for the quarter, compared to the consensus estimate of $160.79 million. Bank of Hawaii had a net margin of 15.91% and a return on equity of 13.25%. During the same period in the previous year, the company earned $1.14 EPS. As a group, sell-side analysts forecast that Bank of Hawaii will post 3.6 EPS for the current year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.80 annualized dividend and a yield of 4.78%. Bank of Hawaii’s dividend payout ratio is 72.16%.

Hedge Funds Weigh In On Bank of Hawaii

A number of institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. purchased a new stake in Bank of Hawaii in the 3rd quarter worth $37,000. IFP Advisors Inc purchased a new position in Bank of Hawaii in the third quarter worth about $39,000. Allspring Global Investments Holdings LLC grew its position in Bank of Hawaii by 2,197.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 781 shares of the bank’s stock worth $39,000 after acquiring an additional 747 shares in the last quarter. GAMMA Investing LLC purchased a new position in Bank of Hawaii in the fourth quarter worth about $41,000. Finally, Quest Partners LLC purchased a new position in Bank of Hawaii in the fourth quarter worth about $41,000. 82.18% of the stock is owned by 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.