Bank of Hawaii (NYSE:BOH) Reaches New 12-Month High – Still a Buy?

Bank of Hawaii Corporation (NYSE:BOH) shares reached a new 52-week high on Thursday . The company traded as high as $83.18 and last traded at $82.9750, with a volume of 37439 shares traded. The stock had previously closed at $81.75.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BOH shares. Barclays raised their price objective on Bank of Hawaii from $83.00 to $86.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. DA Davidson upped their target price on Bank of Hawaii from $77.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Zacks Research downgraded Bank of Hawaii from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings upgraded shares of Bank of Hawaii from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Bank of Hawaii from $91.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.40.

Bank of Hawaii Trading Down 0.5%

The business has a fifty day simple moving average of $78.08 and a 200 day simple moving average of $75.17. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.85 and a beta of 0.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 0.69.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, April 20th. The bank reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $192.32 million during the quarter, compared to analyst estimates of $193.53 million. During the same period last year, the firm earned $0.97 earnings per share. As a group, equities analysts anticipate that Bank of Hawaii Corporation will post 5.91 EPS for the current year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.80 annualized dividend and a yield of 3.4%. Bank of Hawaii’s payout ratio is presently 56.57%.

Institutional Investors Weigh In On Bank of Hawaii

Hedge funds have recently modified their holdings of the company. CoreFirst Bank & Trust grew its holdings in shares of Bank of Hawaii by 14.6% during the first quarter. CoreFirst Bank & Trust now owns 1,410 shares of the bank’s stock worth $105,000 after buying an additional 180 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Bank of Hawaii during the first quarter valued at approximately $529,000. Western Wealth Management LLC acquired a new stake in Bank of Hawaii during the first quarter worth approximately $33,000. Bank of America Corp DE boosted its position in Bank of Hawaii by 254.4% during the first quarter. Bank of America Corp DE now owns 360,138 shares of the bank’s stock worth $26,740,000 after acquiring an additional 258,508 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in Bank of Hawaii in the 1st quarter worth approximately $1,013,000. 82.18% of the stock is owned by institutional investors and hedge funds.

About Bank of Hawaii

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.