Barclays Trims Bank of Hawaii (NYSE:BOH) Target Price to $50.00

Bank of Hawaii (NYSE:BOH) had its price objective reduced by Barclays from $51.00 to $50.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an underweight rating on the bank’s stock.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group lowered their target price on shares of Bank of Hawaii from $67.00 to $62.00 and set a hold rating for the company in a report on Monday, April 8th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of Hawaii from $55.00 to $58.00 and gave the company an underperform rating in a report on Tuesday. StockNews.com upgraded shares of Bank of Hawaii to a sell rating in a report on Thursday, January 25th. Finally, Piper Sandler lowered their target price on shares of Bank of Hawaii from $65.00 to $60.00 and set a neutral rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat.com, Bank of Hawaii presently has an average rating of Reduce and a consensus target price of $52.20.

Bank of Hawaii Stock Performance

Bank of Hawaii stock opened at $58.60 on Tuesday. The stock’s 50 day simple moving average is $60.22 and its two-hundred day simple moving average is $60.85. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 2.04 and a beta of 1.06. Bank of Hawaii has a fifty-two week low of $30.83 and a fifty-two week high of $75.19.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Friday, April 26th. The bank reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.05). The firm had revenue of $252.64 million for the quarter, compared to the consensus estimate of $160.79 million. Bank of Hawaii had a net margin of 15.91% and a return on equity of 13.25%. During the same period in the previous year, the firm posted $1.14 earnings per share. As a group, analysts expect that Bank of Hawaii will post 3.6 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.80 dividend on an annualized basis and a yield of 4.78%. Bank of Hawaii’s payout ratio is currently 72.16%.

Hedge Funds Weigh In On Bank of Hawaii

Hedge funds have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new position in Bank of Hawaii in the 3rd quarter worth approximately $37,000. IFP Advisors Inc purchased a new position in Bank of Hawaii in the 3rd quarter worth approximately $39,000. Allspring Global Investments Holdings LLC raised its holdings in Bank of Hawaii by 2,197.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 781 shares of the bank’s stock worth $39,000 after acquiring an additional 747 shares during the last quarter. GAMMA Investing LLC purchased a new position in Bank of Hawaii in the 4th quarter worth approximately $41,000. Finally, Quest Partners LLC purchased a new position in Bank of Hawaii in the 4th quarter worth approximately $41,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank of Hawaii Company Profile

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.