Bank of Hawaii (NYSE:BOH) Reaches New 12-Month High – Here’s What Happened

Bank of Hawaii Co. (NYSE:BOH) shares reached a new 52-week high on Monday . The company traded as high as $82.36 and last traded at $81.96, with a volume of 240974 shares traded. The stock had previously closed at $80.28.

Wall Street Analysts Forecast Growth

BOH has been the topic of a number of analyst reports. Stephens assumed coverage on Bank of Hawaii in a research report on Wednesday. They set an “overweight” rating and a $90.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on 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. Barclays boosted their price target on Bank of Hawaii from $50.00 to $56.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. DA Davidson increased their price objective on shares of Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler boosted their target price on shares of Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Bank of Hawaii has a consensus rating of “Hold” and an average target price of $69.00.

Bank of Hawaii Stock Up 1.3 %

The stock has a 50 day moving average price of $69.50 and a 200 day moving average price of $64.40. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 5.29 and a beta of 1.03.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.11. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. The company had revenue of $265.76 million for the quarter, compared to analysts’ expectations of $160.29 million. During the same quarter in the previous year, the firm posted $1.17 earnings per share. As a group, analysts forecast that Bank of Hawaii Co. will post 3.52 EPS for the current year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 yield of 3.46%. The ex-dividend date of this dividend is Friday, November 29th. Bank of Hawaii’s dividend payout ratio is presently 84.08%.

Insider Buying and Selling at Bank of Hawaii

In related news, insider Matthew Emerson sold 1,355 shares of the company’s stock in a transaction that occurred 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 directly owns 13,717 shares of the company’s stock, valued at approximately $991,327.59. This represents a 8.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.47% of the company’s stock.

Hedge Funds Weigh In On Bank of Hawaii

A number of large investors have recently modified their holdings of BOH. Geode Capital Management LLC raised its stake in shares of Bank of Hawaii by 1.2% in the third 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 during the last quarter. Barclays PLC grew its stake in shares of Bank of Hawaii by 91.2% in the 3rd quarter. Barclays PLC now owns 93,504 shares of the bank’s stock worth $5,870,000 after acquiring an additional 44,599 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Bank of Hawaii in the 3rd quarter worth about $365,000. State Street Corp lifted its position 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 buying an additional 106,717 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in Bank of Hawaii by 1.2% during the third quarter. Stifel Financial Corp now owns 68,757 shares of the bank’s stock worth $4,316,000 after acquiring an additional 788 shares during the period. 82.18% of the stock is currently owned by 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.