Bank of Hawaii Corporation (NYSE:BOH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Bank of Hawaii Corporation (NYSE:BOH) have been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $81.80.

BOH has been the topic of several analyst reports. Wall Street Zen raised Bank of Hawaii from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. DA Davidson raised their price objective on Bank of Hawaii from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, January 27th. Stephens reiterated an “overweight” rating on shares of Bank of Hawaii in a research note on Tuesday, January 27th. Barclays raised their price target on shares of Bank of Hawaii from $75.00 to $83.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bank of Hawaii in a research report on Monday, December 29th.

Insider Activity at Bank of Hawaii

In related news, CEO Peter S. Ho sold 15,000 shares of Bank of Hawaii stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.87, for a total transaction of $1,018,050.00. Following the sale, the chief executive officer directly owned 156,774 shares in the company, valued at approximately $10,640,251.38. This trade represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.07% of the company’s stock.

Hedge Funds Weigh In On Bank of Hawaii

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Balyasny Asset Management L.P. grew its position in Bank of Hawaii by 122.3% during the third quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank’s stock valued at $66,464,000 after buying an additional 557,148 shares during the period. Norges Bank purchased a new position in Bank of Hawaii in the second quarter valued at about $30,569,000. Nuveen LLC grew its position in shares of Bank of Hawaii by 455.6% during the 4th quarter. Nuveen LLC now owns 491,187 shares of the bank’s stock valued at $33,582,000 after acquiring an additional 402,774 shares during the period. Verition Fund Management LLC increased its stake in shares of Bank of Hawaii by 1,699.7% during the 3rd quarter. Verition Fund Management LLC now owns 265,834 shares of the bank’s stock worth $17,449,000 after purchasing an additional 251,063 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Bank of Hawaii by 36.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 865,384 shares of the bank’s stock worth $59,166,000 after purchasing an additional 229,806 shares during the period. 82.18% of the stock is owned by hedge funds and other institutional investors.

Bank of Hawaii Stock Performance

BOH opened at $76.07 on Monday. Bank of Hawaii has a 1-year low of $57.44 and a 1-year high of $80.61. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.77 and a beta of 0.73. The company’s fifty day moving average price is $73.76 and its two-hundred day moving average price is $68.75. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, January 26th. The bank reported $1.39 EPS for the quarter, topping the consensus estimate of $1.25 by $0.14. The company had revenue of $189.65 million during the quarter, compared to the consensus estimate of $184.83 million. Bank of Hawaii had a net margin of 19.30% and a return on equity of 14.42%. During the same period in the previous year, the firm posted $0.85 earnings per share. On average, analysts expect that Bank of Hawaii will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.7%. Bank of Hawaii’s dividend payout ratio is currently 60.61%.

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.