Bank of Hawaii (NYSE:BOH) Price Target Raised to $68.00

Bank of Hawaii (NYSE:BOH) had its target price increased by Piper Sandler from $66.00 to $68.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an underweight rating on the bank’s stock.

A number of other research firms have also weighed in on BOH. Barclays raised their price objective on shares of Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Stephens initiated coverage on Bank of Hawaii in a research note on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price target for the company. Keefe, Bruyette & Woods increased their price objective on Bank of Hawaii from $74.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson raised their target price on Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $73.00.

Bank of Hawaii Stock Performance

Shares of BOH stock opened at $74.77 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. Bank of Hawaii has a 52 week low of $54.50 and a 52 week high of $82.70. The firm has a 50 day moving average of $73.19 and a 200-day moving average of $69.44. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 22.45 and a beta of 1.05.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.02). Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. On average, equities analysts forecast that Bank of Hawaii will post 3.54 earnings per share for the current year.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Friday, February 28th. Bank of Hawaii’s payout ratio is 80.92%.

Hedge Funds Weigh In On Bank of Hawaii

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Bank of Hawaii by 1.2% in the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock valued at $57,025,000 after acquiring an additional 10,357 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Bank of Hawaii by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank’s stock worth $94,872,000 after purchasing an additional 35,187 shares during the period. Barclays PLC lifted its stake in Bank of Hawaii by 91.2% in the third quarter. Barclays PLC now owns 93,504 shares of the bank’s stock valued at $5,870,000 after purchasing an additional 44,599 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Bank of Hawaii by 13.6% during the third quarter. JPMorgan Chase & Co. now owns 86,591 shares of the bank’s stock valued at $5,435,000 after purchasing an additional 10,390 shares during the period. Finally, Quest Partners LLC purchased a new stake in Bank of Hawaii in the third quarter worth $1,823,000. Institutional investors own 82.18% of the company’s stock.

About Bank of Hawaii

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, overdraft lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, as well as high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.