Bank of Hawaii (NYSE:BOH) Sets New 12-Month High – Here’s Why

Bank of Hawaii Corporation (NYSE:BOH)’s share price hit a new 52-week high on Friday . The company traded as high as $88.26 and last traded at $88.26, with a volume of 202 shares. The stock had previously closed at $84.75.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BOH. Barclays upped their target price on Bank of Hawaii from $86.00 to $88.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Weiss Ratings raised Bank of Hawaii from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Piper Sandler lowered their target price on shares of Bank of Hawaii from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Wall Street Zen cut shares of Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Benchmark began coverage on shares of Bank of Hawaii in a report on Wednesday, July 8th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $85.80.

Bank of Hawaii Price Performance

The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 0.90 and a beta of 0.70. The stock’s 50 day moving average price is $79.92 and its two-hundred day moving average price is $77.18. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.37.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, April 20th. The bank reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). Bank of Hawaii had a return on equity of 14.97% and a net margin of 20.46%.The firm had revenue of $192.32 million for the quarter, compared to the consensus estimate of $193.53 million. During the same period in the prior year, the company posted $0.97 earnings per share. Analysts anticipate that Bank of Hawaii Corporation will post 5.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in shares of Bank of Hawaii by 16.4% in the first quarter. Royal Bank of Canada now owns 26,241 shares of the bank’s stock valued at $1,808,000 after purchasing an additional 3,689 shares in the last quarter. AQR Capital Management LLC increased its holdings in Bank of Hawaii by 177.5% in the first quarter. AQR Capital Management LLC now owns 23,818 shares of the bank’s stock valued at $1,617,000 after purchasing an additional 15,234 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Bank of Hawaii by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank’s stock valued at $1,605,000 after purchasing an additional 1,027 shares during the period. Intech Investment Management LLC raised its stake in Bank of Hawaii by 35.8% during the 1st quarter. Intech Investment Management LLC now owns 19,808 shares of the bank’s stock worth $1,366,000 after buying an additional 5,227 shares during the period. Finally, Strs Ohio bought a new stake in Bank of Hawaii during the 1st quarter worth approximately $41,000. 82.18% of the stock is currently owned by institutional investors.

Bank of Hawaii Company Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.