Bank of Hawaii (NYSE:BOH) Stock Rating Lowered by Zacks Investment Research

Bank of Hawaii (NYSE:BOH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports. They presently have a $94.00 target price on the bank’s stock. Zacks Investment Research‘s price target points to a potential upside of 6.55% from the stock’s current price.

According to Zacks, “Bank of Hawaii has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters, while missing in the other. Improving non-interest-bearing deposits are likely to aid net interest income amid lower rates. Further, sustainable capital deployments are anticipated to enhance shareholders' value. Rising deposit balance and strong balance sheet position will help the company maintain liquidity position and aid its growth. However, its shares have underperformed the industry over the past six months. The company’s elevated expenses on expanding franchise and rising compensation costs might hurt its bottom line. Also, lack of diversifying efforts to expand sources of revenues might dent top-line growth. High debt level is a headwind, in case economic conditions worsen.”

Shares of NYSE BOH opened at $88.22 on Wednesday. Bank of Hawaii has a fifty-two week low of $48.77 and a fifty-two week high of $99.10. The company has a market cap of $3.56 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.02 and a beta of 1.27. The company has a 50-day simple moving average of $90.74.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Sunday, April 25th. The bank reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.35. Bank of Hawaii had a net margin of 25.16% and a return on equity of 13.14%. The business had revenue of $163.54 million for the quarter, compared to analysts’ expectations of $164.52 million. During the same quarter last year, the firm earned $0.87 EPS. Research analysts anticipate that Bank of Hawaii will post 5.5 EPS for the current fiscal year.

In other Bank of Hawaii news, insider Mary E. Sellers sold 5,000 shares of Bank of Hawaii stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $88.71, for a total transaction of $443,550.00. Following the transaction, the insider now owns 100,972 shares of the company’s stock, valued at approximately $8,957,226.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.02% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Bank of Hawaii by 4.1% during the 4th quarter. BlackRock Inc. now owns 4,216,350 shares of the bank’s stock worth $323,058,000 after buying an additional 165,430 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Bank of Hawaii by 12.5% during the 1st quarter. Neuberger Berman Group LLC now owns 2,811,072 shares of the bank’s stock worth $250,526,000 after buying an additional 312,013 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Bank of Hawaii by 39.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,414,879 shares of the bank’s stock worth $216,109,000 after purchasing an additional 687,337 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Bank of Hawaii by 2.9% during the 1st quarter. Victory Capital Management Inc. now owns 1,214,797 shares of the bank’s stock worth $108,712,000 after purchasing an additional 34,219 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in shares of Bank of Hawaii by 19.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 828,347 shares of the bank’s stock worth $63,468,000 after purchasing an additional 137,208 shares during the last quarter. 74.33% of the stock is currently owned by hedge funds and other 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, personal lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, and trust services to individuals and families, and high-net-worth individuals; investment management and institutional investment advisory services to corporations, government entities, and foundations; and brokerage offering equities, mutual funds, life insurance, and annuity products.

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