Bank of Hawaii Co. (NYSE:BOH – Get Free Report) shares were down 4.5% during trading on Tuesday after Keefe, Bruyette & Woods lowered their price target on the stock from $57.00 to $55.00. Keefe, Bruyette & Woods currently has an underperform rating on the stock. Bank of Hawaii traded as low as $65.03 and last traded at $65.11. Approximately 120,419 shares changed hands during trading, a decline of 64% from the average daily volume of 332,836 shares. The stock had previously closed at $68.19.
A number of other brokerages have also recently commented on BOH. StockNews.com upgraded shares of Bank of Hawaii to a “sell” rating in a research note on Monday, December 18th. TheStreet upgraded shares of Bank of Hawaii from a “c+” rating to a “b-” rating in a research note on Friday, December 8th. Jefferies Financial Group lifted their target price on shares of Bank of Hawaii from $49.00 to $52.00 in a research note on Tuesday, October 10th. Finally, Piper Sandler cut their target price on shares of Bank of Hawaii from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, Bank of Hawaii has a consensus rating of “Reduce” and an average price target of $55.50.
Institutional Trading of Bank of Hawaii
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Bank of Hawaii by 38.3% during the 2nd quarter. BlackRock Inc. now owns 5,222,846 shares of the bank’s stock worth $215,338,000 after acquiring an additional 1,445,598 shares during the period. Vanguard Group Inc. grew its holdings in Bank of Hawaii by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,977,581 shares of the bank’s stock worth $302,774,000 after acquiring an additional 49,163 shares during the period. State Street Corp grew its holdings in Bank of Hawaii by 101.2% during the 2nd quarter. State Street Corp now owns 3,094,213 shares of the bank’s stock worth $127,574,000 after acquiring an additional 1,556,146 shares during the period. Victory Capital Management Inc. grew its holdings in Bank of Hawaii by 28.6% during the 3rd quarter. Victory Capital Management Inc. now owns 2,652,216 shares of the bank’s stock worth $131,789,000 after acquiring an additional 590,492 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Bank of Hawaii by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,118,092 shares of the bank’s stock worth $55,558,000 after acquiring an additional 39,512 shares during the period. Institutional investors and hedge funds own 82.46% of the company’s stock.
Bank of Hawaii Stock Down 4.3 %
The company has a market cap of $2.59 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 2.31 and a beta of 1.12. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average price is $66.07 and its 200-day moving average price is $56.46.
Bank of Hawaii (NYSE:BOH – Get Free Report) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Bank of Hawaii had a net margin of 21.32% and a return on equity of 17.30%. The company had revenue of $252.63 million during the quarter, compared to analyst estimates of $161.03 million. During the same quarter in the previous year, the business earned $1.50 EPS. Sell-side analysts predict that Bank of Hawaii Co. will post 4.28 earnings per share for the current year.
Bank of Hawaii Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Wednesday, February 28th. Bank of Hawaii’s dividend payout ratio (DPR) is 56.80%.
About Bank of Hawaii
Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, and high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.