Zacks Investment Research upgraded shares of Bank of Hawaii Corp. (NYSE:BOH) from a hold rating to a buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $80.00 target price on the 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 analysts have also recently commented on the company. Barclays PLC reiterated an equal weight rating and set a $66.00 price objective on shares of Bank of Hawaii Corp. in a research report on Tuesday, July 26th. RBC Capital Markets reiterated a sector perform rating and set a $72.00 price objective (up previously from $68.00) on shares of Bank of Hawaii Corp. in a research report on Tuesday, July 26th. Piper Jaffray Cos. initiated coverage on Bank of Hawaii Corp. in a research report on Friday, July 8th. They set a neutral rating and a $70.00 price objective for the company. Royal Bank Of Canada upped their price objective on Bank of Hawaii Corp. from $68.00 to $72.00 and gave the company a sector perform rating in a research report on Tuesday, July 26th. Finally, Compass Point initiated coverage on Bank of Hawaii Corp. in a research report on Thursday, August 11th. They set a neutral rating and a $69.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Bank of Hawaii Corp. has a consensus rating of Hold and an average target price of $68.91.

Shares of Bank of Hawaii Corp. (NYSE:BOH) opened at 70.35 on Tuesday. The firm has a 50 day moving average price of $70.22 and a 200 day moving average price of $68.94. Bank of Hawaii Corp. has a 12-month low of $54.55 and a 12-month high of $73.04. The stock has a market cap of $3.02 billion, a PE ratio of 17.73 and a beta of 1.06.

Bank of Hawaii Corp. (NYSE:BOH) last posted its quarterly earnings data on Monday, July 25th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The company earned $150.10 million during the quarter, compared to analysts’ expectations of $149.13 million. Bank of Hawaii Corp. had a return on equity of 15.21% and a net margin of 26.96%. Bank of Hawaii Corp.’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. On average, equities analysts expect that Bank of Hawaii Corp. will post $4.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Monday, August 29th. Bank of Hawaii Corp.’s dividend payout ratio (DPR) is 48.36%.

Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in Bank of Hawaii Corp. by 77.6% in the second quarter. Victory Capital Management Inc. now owns 1,717 shares of the company’s stock worth $118,000 after buying an additional 750 shares during the period. Advisor Group Inc. acquired a new position in Bank of Hawaii Corp. during the second quarter worth $140,000. LS Investment Advisors LLC raised its position in Bank of Hawaii Corp. by 74.7% in the second quarter. LS Investment Advisors LLC now owns 2,579 shares of the company’s stock worth $177,000 after buying an additional 1,103 shares during the period. Reliance Trust Co. of Delaware acquired a new position in Bank of Hawaii Corp. during the second quarter worth $203,000. Finally, Independent Portfolio Consultants Inc. raised its position in Bank of Hawaii Corp. by 8.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,075 shares of the company’s stock worth $212,000 after buying an additional 240 shares during the period. 76.10% of the stock is owned by hedge funds and other institutional investors.

About Bank of Hawaii Corp.

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 services and products primarily to customers in Hawaii, Guam and other Pacific Islands. The Company operates through four business segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.

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