Bank of Hawaii Corporation (NYSE:BOH) Receives $71.25 Consensus Target Price from Brokerages

Bank of Hawaii Corporation (NYSE:BOH) has earned an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $71.25.

Several brokerages have recently commented on BOH. Wall Street Zen lowered Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Sunday, January 4th. DA Davidson reiterated a “neutral” rating and set a $70.00 target price on shares of Bank of Hawaii in a research report on Tuesday, October 28th. Barclays increased their price target on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bank of Hawaii in a research report on Monday, December 29th.

Bank of Hawaii Price Performance

Shares of NYSE:BOH opened at $71.16 on Friday. Bank of Hawaii has a 12 month low of $57.44 and a 12 month high of $76.00. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.83 billion, a P/E ratio of 17.44, a P/E/G ratio of 0.63 and a beta of 0.75. The company has a 50 day moving average of $68.13 and a 200 day moving average of $66.65.

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

Bank of Hawaii Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $2.80 annualized dividend and a yield of 3.9%. Bank of Hawaii’s payout ratio is 68.63%.

Insiders Place Their Bets

In other Bank of Hawaii news, CEO Peter S. Ho sold 15,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $67.87, for a total transaction of $1,018,050.00. Following the transaction, the chief executive officer directly owned 156,774 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. 2.07% of the stock is owned by insiders.

Institutional Trading of Bank of Hawaii

Several hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. lifted its stake in shares of Bank of Hawaii by 122.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank’s stock valued at $66,464,000 after acquiring an additional 557,148 shares during the last quarter. Norges Bank bought a new stake in Bank of Hawaii in the second quarter valued at approximately $30,569,000. Millennium Management LLC lifted its position in Bank of Hawaii by 4,090.7% in the first quarter. Millennium Management LLC now owns 302,315 shares of the bank’s stock valued at $20,851,000 after purchasing an additional 295,101 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Bank of Hawaii by 1,699.7% during the third quarter. Verition Fund Management LLC now owns 265,834 shares of the bank’s stock valued at $17,449,000 after purchasing an additional 251,063 shares during the period. Finally, Two Sigma Investments LP grew its holdings in shares of Bank of Hawaii by 163.9% in the third quarter. Two Sigma Investments LP now owns 339,827 shares of the bank’s stock worth $22,306,000 after purchasing an additional 211,076 shares during the last quarter. 82.18% of the stock is owned by institutional investors.

About Bank of Hawaii

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.