Bank of Hawaii (NYSE:BOH) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Bank of Hawaii (NYSE:BOH) from a hold rating to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

Several other research firms have also issued reports on BOH. Stephens reiterated an “overweight” rating on shares of Bank of Hawaii in a research note on Tuesday. Keefe, Bruyette & Woods raised shares of Bank of Hawaii from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $75.00 to $91.00 in a research report on Tuesday. DA Davidson increased their target price on shares of Bank of Hawaii from $73.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday. Barclays raised their target price on shares of Bank of Hawaii from $75.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Wall Street Zen downgraded Bank of Hawaii from a “hold” rating to a “sell” rating in a research report on Sunday, January 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank of Hawaii has a consensus rating of “Moderate Buy” and a consensus target price of $81.80.

Bank of Hawaii Stock Up 1.5%

Bank of Hawaii stock opened at $75.26 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm has a market cap of $2.99 billion, a P/E ratio of 16.29, a P/E/G ratio of 0.62 and a beta of 0.75. The business has a fifty day moving average of $69.61 and a two-hundred day moving average of $66.86. Bank of Hawaii has a twelve month low of $57.44 and a twelve month high of $78.25.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Monday, January 26th. The bank reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. The business had revenue of $189.65 million for the quarter, compared to the consensus estimate of $184.83 million. Bank of Hawaii had a return on equity of 14.42% and a net margin of 19.30%.During the same period last year, the business posted $0.85 EPS. On average, analysts forecast that Bank of Hawaii will post 3.97 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.7%. Bank of Hawaii’s payout ratio is 60.61%.

Insider Activity

In related news, CEO Peter S. Ho sold 15,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.87, for a total value of $1,018,050.00. Following the transaction, the chief executive officer directly owned 156,774 shares of the company’s stock, valued at $10,640,251.38. This represents a 8.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Bank of Hawaii by 16.4% during the first quarter. Royal Bank of Canada now owns 26,241 shares of the bank’s stock worth $1,808,000 after purchasing an additional 3,689 shares during the period. AQR Capital Management LLC raised its position in Bank of Hawaii by 177.5% during the 1st quarter. AQR Capital Management LLC now owns 23,818 shares of the bank’s stock worth $1,617,000 after buying an additional 15,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Bank of Hawaii by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank’s stock valued at $1,605,000 after acquiring an additional 1,027 shares during the period. Intech Investment Management LLC lifted its stake in Bank of Hawaii by 35.8% during the 1st quarter. Intech Investment Management LLC now owns 19,808 shares of the bank’s stock valued at $1,366,000 after acquiring an additional 5,227 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Bank of Hawaii in the 1st quarter valued at $41,000. 82.18% of the stock is owned by institutional investors and hedge funds.

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.