Bank of Hawaii (NYSE:BOH) Cut to “Equal Weight” at Stephens

Stephens downgraded shares of Bank of Hawaii (NYSE:BOH) from an overweight rating to an equal weight rating in a research note issued to investors on Thursday, MarketBeat reports. The brokerage currently has $85.00 target price on the bank’s stock.

BOH has been the topic of several other reports. Barclays cut their target price on shares of Bank of Hawaii from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 28th. Benchmark reissued a “hold” rating on shares of Bank of Hawaii in a research report on Tuesday, July 28th. DA Davidson boosted their price target on shares of Bank of Hawaii from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of Hawaii in a research report on Friday, July 24th. Finally, Wall Street Zen cut Bank of Hawaii from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Bank of Hawaii presently has a consensus rating of “Hold” and a consensus target price of $85.00.

Bank of Hawaii Stock Performance

NYSE BOH opened at $79.22 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $3.13 billion, a P/E ratio of 14.78, a P/E/G ratio of 0.90 and a beta of 0.71. The stock has a 50-day moving average of $80.54 and a two-hundred day moving average of $77.88. Bank of Hawaii has a 1-year low of $59.36 and a 1-year high of $86.31.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.01. Bank of Hawaii had a net margin of 21.84% and a return on equity of 15.72%. The business had revenue of $196.90 million for the quarter, compared to analysts’ expectations of $199.51 million. During the same quarter in the prior year, the company earned $1.06 earnings per share. As a group, analysts anticipate that Bank of Hawaii will post 5.88 EPS for the current year.

Bank of Hawaii Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, August 31st. Bank of Hawaii’s payout ratio is 52.24%.

Insider Activity at Bank of Hawaii

In other news, insider Marco A. Abbruzzese sold 2,441 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $81.59, for a total value of $199,161.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.97% of the company’s stock.

Hedge Funds Weigh In On Bank of Hawaii

Institutional investors and hedge funds have recently modified their holdings of the company. Danske Bank A S acquired a new stake in Bank of Hawaii in the fourth quarter valued at $27,000. Western Wealth Management LLC purchased a new stake in Bank of Hawaii during the 1st quarter worth about $33,000. SHP Wealth Management acquired a new position in shares of Bank of Hawaii during the 4th quarter worth about $34,000. Global Retirement Partners LLC purchased a new position in shares of Bank of Hawaii in the 2nd quarter valued at about $34,000. Finally, Quarry LP increased its holdings in shares of Bank of Hawaii by 1,497.2% in the 3rd quarter. Quarry LP now owns 575 shares of the bank’s stock valued at $38,000 after acquiring an additional 539 shares during the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

About Bank of Hawaii

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.