Bank of Hawaii (NYSE:BOH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Bank of Hawaii (NYSE:BOH) from a sell rating to a hold rating in a report issued on Saturday.

Several other research firms have also commented on BOH. Barclays boosted their price objective on Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 28th. Stephens dropped their price target on Bank of Hawaii from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Tuesday, July 29th. Piper Sandler began coverage on Bank of Hawaii in a research note on Thursday, August 21st. They issued a “neutral” rating and a $71.00 price objective for the company. DA Davidson restated a “neutral” rating and issued a $70.00 price objective on shares of Bank of Hawaii in a report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bank of Hawaii in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.20.

Bank of Hawaii Stock Performance

NYSE:BOH opened at $63.14 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $2.51 billion, a PE ratio of 15.48, a P/E/G ratio of 0.76 and a beta of 0.88. Bank of Hawaii has a fifty-two week low of $57.44 and a fifty-two week high of $82.70. The company has a fifty day moving average of $65.01 and a two-hundred day moving average of $66.33.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Tuesday, October 28th. The bank reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Bank of Hawaii had a net margin of 17.41% and a return on equity of 13.33%. The business had revenue of $182.64 million during the quarter, compared to analysts’ expectations of $180.95 million. During the same quarter in the previous year, the company earned $0.93 earnings per share. As a group, research analysts forecast that Bank of Hawaii will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, November 28th. Bank of Hawaii’s payout ratio is currently 68.63%.

Institutional Investors Weigh In On Bank of Hawaii

A number of hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in Bank of Hawaii by 150.0% during the third quarter. Farther Finance Advisors LLC now owns 450 shares of the bank’s stock worth $30,000 after purchasing an additional 270 shares during the period. Quarry LP grew its stake in shares of Bank of Hawaii by 1,497.2% in the 3rd quarter. Quarry LP now owns 575 shares of the bank’s stock valued at $38,000 after buying an additional 539 shares during the period. Strs Ohio acquired a new stake in shares of Bank of Hawaii during the 1st quarter worth approximately $41,000. EverSource Wealth Advisors LLC raised its position in shares of Bank of Hawaii by 461.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock valued at $42,000 after buying an additional 512 shares during the period. Finally, State of Wyoming raised its position in shares of Bank of Hawaii by 8,220.0% during the 2nd quarter. State of Wyoming now owns 832 shares of the bank’s stock valued at $56,000 after buying an additional 822 shares during the period. Hedge funds and other institutional investors own 82.18% of the company’s stock.

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.