Bank of Hawaii (BOH) Rating Reiterated by Piper Jaffray Companies
BOH has been the topic of several other research reports. Jefferies Group restated a hold rating and issued a $85.00 target price on shares of Bank of Hawaii in a research note on Friday, September 15th. Zacks Investment Research downgraded shares of Bank of Hawaii from a hold rating to a sell rating in a research note on Tuesday, December 26th. Keefe, Bruyette & Woods restated a hold rating and issued a $88.00 target price on shares of Bank of Hawaii in a research note on Tuesday, October 24th. Morgan Stanley restated an underweight rating and issued a $77.00 target price (up previously from $75.00) on shares of Bank of Hawaii in a research note on Wednesday, October 4th. Finally, Barclays boosted their target price on shares of Bank of Hawaii from $85.00 to $92.00 and gave the company an equal weight rating in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $92.25.
Bank of Hawaii (BOH) traded up $0.75 on Tuesday, reaching $88.62. 204,531 shares of the company’s stock were exchanged, compared to its average volume of 193,422. Bank of Hawaii has a 1 year low of $74.72 and a 1 year high of $90.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $3,732.60, a P/E ratio of 20.37, a P/E/G ratio of 2.00 and a beta of 0.97.
Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $1.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.08. Bank of Hawaii had a net margin of 27.27% and a return on equity of 15.45%. The firm had revenue of $158.73 million for the quarter, compared to the consensus estimate of $163.29 million. During the same quarter in the previous year, the company earned $1.02 earnings per share. analysts forecast that Bank of Hawaii will post 4.42 earnings per share for the current fiscal year.
Bank of Hawaii announced that its Board of Directors has approved a stock buyback plan on Monday, October 23rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were paid a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $2.08 annualized dividend and a dividend yield of 2.35%. Bank of Hawaii’s dividend payout ratio is presently 47.82%.
Several large investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Bank of Hawaii in the third quarter valued at about $117,000. Rocky Mountain Advisers LLC raised its holdings in shares of Bank of Hawaii by 13,300.0% in the third quarter. Rocky Mountain Advisers LLC now owns 2,010 shares of the bank’s stock valued at $168,000 after buying an additional 1,995 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Bank of Hawaii in the third quarter valued at about $203,000. Trexquant Investment LP bought a new position in shares of Bank of Hawaii in the third quarter valued at about $240,000. Finally, Eagle Ridge Investment Management bought a new position in shares of Bank of Hawaii in the third quarter valued at about $244,000. Institutional investors own 75.66% of the company’s stock.
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Bank of Hawaii 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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