Piper Sandler Cuts Bank of Hawaii (NYSE:BOH) Price Target to $78.00

Bank of Hawaii (NYSE:BOH) had its price objective decreased by Piper Sandler from $84.00 to $78.00 in a research report sent to investors on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

BOH has been the topic of a number of other reports. Wall Street Zen raised shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Zacks Research raised shares of Bank of Hawaii from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Barclays upped their price objective 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, January 27th. Weiss Ratings raised Bank of Hawaii from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 30th. Finally, Keefe, Bruyette & Woods upgraded Bank of Hawaii from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $75.00 to $91.00 in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Bank of Hawaii has a consensus rating of “Moderate Buy” and a consensus price target of $83.20.

Bank of Hawaii Price Performance

BOH stock opened at $74.79 on Thursday. The business has a 50 day moving average price of $75.62 and a 200 day moving average price of $69.92. 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 stock has a market cap of $2.97 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 0.76 and a beta of 0.72. Bank of Hawaii has a fifty-two week low of $57.44 and a fifty-two week high of $80.61.

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

Bank of Hawaii Dividend Announcement

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

Institutional Trading of Bank of Hawaii

A number of large investors have recently bought and sold shares of BOH. Danske Bank A S purchased a new position in Bank of Hawaii during the 4th quarter worth $27,000. Farther Finance Advisors LLC boosted its stake in shares of Bank of Hawaii by 150.0% during the third quarter. Farther Finance Advisors LLC now owns 450 shares of the bank’s stock worth $30,000 after buying an additional 270 shares during the period. SHP Wealth Management acquired a new stake in shares of Bank of Hawaii during the fourth quarter worth about $34,000. Quarry LP grew its holdings in shares of Bank of Hawaii by 1,497.2% during 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 last quarter. Finally, Strs Ohio purchased a new position in shares of Bank of Hawaii during the first quarter worth about $41,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

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.