Zacks Investment Research cut shares of Bank of Hawaii (NYSE:BOH) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “Shares of Bank of Hawaii have underperformed the industry over the last six months. Also, the company’s earnings surprise history is not so impressive. It beat the Zacks Consensus Estimate in one of the trailing four quarters. With a rising interest-rate environment and improving non-interest bearing deposits, the company's net interest income and net interest margin are expected to grow. Also, its steady capital-deployment activities reflect robust balance-sheet position. However, the company’s escalating costs, mainly from expanding franchise, are likely to deter bottom-line growth to some extent. Also, lack of geographic diversification remains a key headwind.”

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods restated a hold rating and set a $89.00 price objective on shares of Bank of Hawaii in a research report on Tuesday, July 24th. ValuEngine upgraded shares of Bank of Hawaii from a sell rating to a hold rating in a report on Friday, August 10th. Finally, Morgan Stanley cut their price target on shares of Bank of Hawaii from $87.00 to $85.00 and set an underweight rating for the company in a report on Tuesday, September 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Bank of Hawaii has a consensus rating of Hold and an average target price of $91.08.

Shares of Bank of Hawaii stock opened at $80.64 on Tuesday. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.81 and a beta of 0.68. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.19. Bank of Hawaii has a one year low of $77.71 and a one year high of $89.09.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, July 23rd. The bank reported $1.30 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.30. The company had revenue of $161.79 million during the quarter, compared to the consensus estimate of $164.78 million. Bank of Hawaii had a net margin of 28.32% and a return on equity of 16.26%. During the same quarter in the prior year, the firm earned $1.05 EPS. equities research analysts forecast that Bank of Hawaii will post 5.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.98%. Bank of Hawaii’s dividend payout ratio is presently 54.42%.

In other news, Director Barbara J. Tanabe sold 613 shares of the stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $83.23, for a total value of $51,019.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary G. F. Bitterman sold 367 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $81.91, for a total transaction of $30,060.97. The disclosure for this sale can be found here. Company insiders own 2.04% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Nomura Holdings Inc. purchased a new position in Bank of Hawaii during the 2nd quarter valued at about $279,000. Bank of Nova Scotia purchased a new position in Bank of Hawaii during the 2nd quarter valued at about $3,362,000. MetLife Investment Advisors LLC purchased a new position in Bank of Hawaii during the 2nd quarter valued at about $2,216,000. Metropolitan Life Insurance Co. NY increased its holdings in Bank of Hawaii by 899.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 12,174 shares of the bank’s stock valued at $1,016,000 after acquiring an additional 10,956 shares in the last quarter. Finally, New England Asset Management Inc. purchased a new position in Bank of Hawaii during the 2nd quarter valued at about $495,000. Institutional investors and hedge funds own 75.03% 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 financial products and services in Hawaii, Guam, and other Pacific Islands. It operates through four segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other.

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