Bank of Hawaii (NYSE:BOH) Hits New 12-Month High – Still a Buy?

Bank of Hawaii Corporation (NYSE:BOH) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $83.28 and last traded at $83.4110, with a volume of 60225 shares traded. The stock had previously closed at $81.49.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. DA Davidson increased their price target on Bank of Hawaii from $77.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Barclays boosted their price target on Bank of Hawaii from $83.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. Stephens upped their price objective on Bank of Hawaii from $82.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Piper Sandler decreased their target price on shares of Bank of Hawaii from $84.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, April 2nd. Finally, Weiss Ratings upgraded shares of Bank of Hawaii from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.40.

Bank of Hawaii Price Performance

The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 0.87 and a beta of 0.70. The company’s 50 day moving average is $78.43 and its 200-day moving average is $75.75. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Monday, April 20th. The bank reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). Bank of Hawaii had a return on equity of 14.97% and a net margin of 20.46%.The business had revenue of $192.32 million for the quarter, compared to analyst estimates of $193.53 million. During the same period last year, the firm earned $0.97 EPS. Equities research analysts anticipate that Bank of Hawaii Corporation will post 5.91 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.80 annualized dividend and a yield of 3.4%. Bank of Hawaii’s dividend payout ratio (DPR) is currently 56.57%.

Hedge Funds Weigh In On Bank of Hawaii

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in shares of Bank of Hawaii by 16.4% during the 1st quarter. Royal Bank of Canada now owns 26,241 shares of the bank’s stock worth $1,808,000 after buying an additional 3,689 shares during the last quarter. AQR Capital Management LLC grew its stake in Bank of Hawaii by 177.5% in the 1st quarter. AQR Capital Management LLC now owns 23,818 shares of the bank’s stock valued at $1,617,000 after buying an additional 15,234 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Bank of Hawaii by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank’s stock valued at $1,605,000 after acquiring an additional 1,027 shares during the period. Intech Investment Management LLC raised its holdings in Bank of Hawaii by 35.8% in the 1st quarter. Intech Investment Management LLC now owns 19,808 shares of the bank’s stock valued at $1,366,000 after acquiring an additional 5,227 shares during the period. Finally, Strs Ohio acquired a new stake in Bank of Hawaii during the first quarter worth approximately $41,000. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Bank of Hawaii Company Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.