Bank of Hawaii (NYSE:BOH) Hits New 12-Month High – Here’s Why

Bank of Hawaii Corporation (NYSE:BOH) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $83.83 and last traded at $83.8630, with a volume of 114977 shares trading hands. The stock had previously closed at $82.08.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BOH. Keefe, Bruyette & Woods lifted their price target on Bank of Hawaii from $91.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Wall Street Zen cut Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Piper Sandler reduced their price objective on Bank of Hawaii from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Zacks Research cut Bank of Hawaii from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Barclays boosted their target price on Bank of Hawaii from $86.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $85.80.

Bank of Hawaii Stock Performance

The company has a market cap of $3.40 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 0.88 and a beta of 0.70. The company’s fifty day moving average is $79.24 and its 200 day moving average is $76.62. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, April 20th. The bank reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). Bank of Hawaii had a return on equity of 14.97% and a net margin of 20.46%.The business had revenue of $192.32 million during the quarter, compared to the consensus estimate of $193.53 million. During the same period in the prior year, the firm earned $0.97 earnings per share. As a group, equities analysts predict that Bank of Hawaii Corporation will post 5.89 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, May 29th. Bank of Hawaii’s payout ratio is 56.57%.

Institutional Investors Weigh In On Bank of Hawaii

Institutional investors have recently bought and sold shares of the stock. Danske Bank A S purchased a new position in Bank of Hawaii in the 4th quarter worth approximately $27,000. Western Wealth Management LLC bought a new position in shares of Bank of Hawaii in the first quarter worth approximately $33,000. SHP Wealth Management purchased a new position in shares of Bank of Hawaii in the fourth quarter worth $34,000. Quarry LP increased its stake in shares of Bank of Hawaii by 1,497.2% in the third quarter. Quarry LP now owns 575 shares of the bank’s stock worth $38,000 after buying an additional 539 shares during the period. Finally, Strs Ohio bought a new stake in Bank of Hawaii during the 1st quarter valued at $41,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

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.