Stephens Initiates Coverage on Bank of Hawaii (NYSE:BOH)

Equities researchers at Stephens started coverage on shares of Bank of Hawaii (NYSE:BOH) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $90.00 price target on the bank’s stock. Stephens’ price target would suggest a potential upside of 12.01% from the company’s previous close.

Several other research analysts have also recently commented on BOH. Keefe, Bruyette & Woods upped their target price on shares of Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. DA Davidson increased their price objective on Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Piper Sandler lifted their target price on Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Finally, Barclays increased their price target on Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.00.

Bank of Hawaii Trading Up 0.7 %

Shares of NYSE BOH opened at $80.35 on Wednesday. Bank of Hawaii has a 12-month low of $54.50 and a 12-month high of $82.70. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 5.24 and a beta of 1.03. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $70.10 and its 200 day simple moving average is $64.65.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The company had revenue of $265.76 million for the quarter, compared to analysts’ expectations of $160.29 million. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. During the same period last year, the business posted $1.17 earnings per share. Equities research analysts expect that Bank of Hawaii will post 3.52 EPS for the current year.

Insider Activity at Bank of Hawaii

In related news, insider Matthew Emerson sold 1,355 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the sale, the insider now directly owns 13,717 shares in the company, valued at $991,327.59. The trade was a 8.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BOH. State Street Corp boosted its stake in shares of Bank of Hawaii by 5.0% during the 3rd quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock worth $140,897,000 after acquiring an additional 106,717 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Bank of Hawaii by 13.1% during the second quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock valued at $93,533,000 after purchasing an additional 189,878 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Bank of Hawaii by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank’s stock valued at $94,872,000 after purchasing an additional 35,187 shares during the period. Geode Capital Management LLC increased its stake in Bank of Hawaii by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock worth $57,025,000 after purchasing an additional 10,357 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Bank of Hawaii by 14.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock worth $45,167,000 after buying an additional 98,465 shares during the period. Institutional investors and hedge funds own 82.18% of the company’s stock.

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, overdraft 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, as well as 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.