Bank of Hawaii (NYSE:BOH) Shares Gap Down to $65.79

Bank of Hawaii Co. (NYSE:BOH) gapped down before the market opened on Monday . The stock had previously closed at $65.79, but opened at $63.95. Bank of Hawaii shares last traded at $65.72, with a volume of 43,957 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BOH. Barclays cut their price target on shares of Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating for the company in a report on Tuesday, April 23rd. DA Davidson increased their target price on shares of Bank of Hawaii from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price target on Bank of Hawaii from $58.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group upped their price target on Bank of Hawaii from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, StockNews.com raised Bank of Hawaii to a “sell” rating in a report on Thursday, May 30th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $59.00.

Bank of Hawaii Stock Up 1.5 %

The firm’s fifty day simple moving average is $61.19 and its 200-day simple moving average is $60.39. The company has a market cap of $2.56 billion, a PE ratio of 16.61 and a beta of 1.06. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $255.62 million for the quarter, compared to analyst estimates of $157.12 million. Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. During the same quarter in the prior year, the firm earned $1.12 earnings per share. As a group, equities research analysts expect that Bank of Hawaii Co. will post 3.37 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.70 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.35%. Bank of Hawaii’s dividend payout ratio is currently 72.16%.

Insider Activity at Bank of Hawaii

In other Bank of Hawaii news, insider Taryn L. Salmon sold 2,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $67.80, for a total transaction of $160,279.20. Following the sale, the insider now directly owns 10,785 shares of the company’s stock, valued at approximately $731,223. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Swedbank AB purchased a new stake in shares of Bank of Hawaii in the first quarter valued at $43,673,000. Norges Bank purchased a new stake in Bank of Hawaii in the 4th quarter valued at about $29,508,000. Goldman Sachs Group Inc. increased its stake in shares of Bank of Hawaii by 105.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 451,528 shares of the bank’s stock valued at $32,718,000 after acquiring an additional 231,909 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Bank of Hawaii by 13.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock worth $93,533,000 after acquiring an additional 189,878 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Bank of Hawaii during the 4th quarter worth about $8,952,000. 82.18% of the stock is currently owned by institutional investors and hedge funds.

About Bank of Hawaii

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.