Bank of Hawaii (NYSE:BOH) Cut to Sell at Wall Street Zen

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

A number of other brokerages also recently commented on BOH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bank of Hawaii in a research report on Tuesday, November 25th. DA Davidson restated a “neutral” rating and set a $70.00 price target on shares of Bank of Hawaii in a report on Tuesday, October 28th. Piper Sandler assumed coverage on Bank of Hawaii in a report on Thursday, August 21st. They set a “neutral” rating and a $71.00 price objective for the company. Finally, Barclays lifted their price objective on Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.25.

Bank of Hawaii Stock Up 1.4%

Shares of Bank of Hawaii stock opened at $67.42 on Friday. The stock has a 50-day moving average price of $64.68 and a 200 day moving average price of $65.99. The company has a market cap of $2.68 billion, a P/E ratio of 16.52, a P/E/G ratio of 0.71 and a beta of 0.75. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.39. Bank of Hawaii has a 1 year low of $57.44 and a 1 year high of $77.29.

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

Bank of Hawaii Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, November 28th. Bank of Hawaii’s payout ratio is 68.63%.

Hedge Funds Weigh In On Bank of Hawaii

A number of institutional investors have recently modified their holdings of BOH. CIBC Bancorp USA Inc. acquired a new stake in shares of Bank of Hawaii in the third quarter worth $276,000. First Affirmative Financial Network lifted its position in Bank of Hawaii by 5.6% during the 3rd quarter. First Affirmative Financial Network now owns 3,353 shares of the bank’s stock worth $220,000 after acquiring an additional 178 shares during the last quarter. Advisory Services Network LLC bought a new stake in Bank of Hawaii during the third quarter valued at about $63,000. CANADA LIFE ASSURANCE Co grew its position in shares of Bank of Hawaii by 2.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 40,547 shares of the bank’s stock valued at $2,658,000 after purchasing an additional 794 shares during the last quarter. Finally, PharVision Advisers LLC bought a new position in shares of Bank of Hawaii in the third quarter worth about $211,000. 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.