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

Stephens assumed coverage on shares of Bank of Hawaii (NYSE:BOH) in a report published on Wednesday morning, MarketBeat reports. The firm issued an overweight rating and a $90.00 price objective on the bank’s stock.

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

Bank of Hawaii Stock Performance

BOH opened at $80.35 on Wednesday. The stock has a market cap of $3.19 billion, a P/E ratio of 24.13, a P/E/G ratio of 5.29 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s 50 day simple moving average is $69.79 and its 200 day simple moving average is $64.54. Bank of Hawaii has a 1-year low of $54.50 and a 1-year high of $82.70.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The business 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 quarter in the prior year, the firm posted $1.17 EPS. As a group, equities analysts anticipate that Bank of Hawaii will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, November 29th. Bank of Hawaii’s dividend payout ratio is presently 84.08%.

Insiders Place Their Bets

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total transaction of $97,925.85. Following the transaction, the insider now owns 13,717 shares of the company’s stock, valued at $991,327.59. This represents a 8.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.11% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of Bank of Hawaii by 5.0% in the 3rd quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock worth $140,897,000 after buying an additional 106,717 shares during the period. Victory Capital Management Inc. raised its position in shares of Bank of Hawaii by 13.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock worth $93,533,000 after buying an additional 189,878 shares during the period. Charles Schwab Investment Management Inc. raised its position in Bank of Hawaii by 2.4% in the third 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 raised its position in Bank of Hawaii by 1.2% in the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock valued at $57,025,000 after purchasing an additional 10,357 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Bank of Hawaii by 14.2% in the second quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock valued at $45,167,000 after purchasing an additional 98,465 shares during the period. 82.18% of the stock is owned by hedge funds and other institutional investors.

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.