Zacks Investment Research upgraded shares of Bank of Hawaii Corporation (NYSE:BOH) from a hold rating to a buy rating in a report issued on Monday morning. Zacks Investment Research currently has $95.00 target price on the bank’s stock.
According to Zacks, “Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The Company’s principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. “
A number of other brokerages also recently commented on BOH. Piper Jaffray Companies restated a hold rating and set a $94.00 target price on shares of Bank of Hawaii Corporation in a report on Wednesday, July 26th. BidaskClub downgraded Bank of Hawaii Corporation from a sell rating to a strong sell rating in a report on Tuesday, August 1st. Barclays PLC upped their target price on Bank of Hawaii Corporation from $81.00 to $85.00 and gave the company an equal weight rating in a report on Tuesday, July 25th. Morgan Stanley restated an underweight rating and set a $77.00 target price (up previously from $75.00) on shares of Bank of Hawaii Corporation in a report on Wednesday, October 4th. Finally, Jefferies Group LLC restated a hold rating and set a $85.00 target price on shares of Bank of Hawaii Corporation in a report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of Hold and a consensus price target of $88.60.
Bank of Hawaii Corporation (NYSE:BOH) last announced its earnings results on Monday, July 24th. The bank reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $157.52 million during the quarter, compared to the consensus estimate of $157.76 million. Bank of Hawaii Corporation had a return on equity of 15.45% and a net margin of 27.28%. During the same quarter in the prior year, the company earned $1.03 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, August 29th. This is an increase from Bank of Hawaii Corporation’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.49%. Bank of Hawaii Corporation’s dividend payout ratio (DPR) is presently 48.48%.
In other news, insider Donna A. Tanoue sold 1,185 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $76.86, for a total transaction of $91,079.10. Following the completion of the transaction, the insider now directly owns 15,204 shares in the company, valued at $1,168,579.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donna A. Tanoue sold 4,050 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $76.15, for a total value of $308,407.50. Following the transaction, the insider now owns 9,969 shares of the company’s stock, valued at $759,139.35. The disclosure for this sale can be found here. Insiders have sold 11,235 shares of company stock valued at $860,767 over the last 90 days. Corporate insiders own 2.16% of the company’s stock.
Large investors have recently modified their holdings of the company. Crestwood Advisors Group LLC increased its holdings in shares of Bank of Hawaii Corporation by 0.6% during the second quarter. Crestwood Advisors Group LLC now owns 2,483 shares of the bank’s stock valued at $206,000 after acquiring an additional 14 shares in the last quarter. World Asset Management Inc boosted its position in shares of Bank of Hawaii Corporation by 1.4% during the second quarter. World Asset Management Inc now owns 2,660 shares of the bank’s stock valued at $221,000 after buying an additional 36 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Bank of Hawaii Corporation during the first quarter valued at $234,000. Shelton Capital Management purchased a new stake in shares of Bank of Hawaii Corporation during the second quarter valued at $269,000. Finally, LS Investment Advisors LLC boosted its position in shares of Bank of Hawaii Corporation by 17.0% during the second quarter. LS Investment Advisors LLC now owns 3,357 shares of the bank’s stock valued at $279,000 after buying an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.
Bank of Hawaii Corporation Company Profile
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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