Bank of Hawaii Co. (NYSE:BOH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $91.00 target price on the bank’s stock. Zacks Investment Research’s price target would indicate a potential upside of 12.08% from the stock’s previous close.
According to Zacks, “Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The Company’s principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. “
Bank of Hawaii (NYSE:BOH) traded up 0.28% during trading on Friday, reaching $81.19. 209,273 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $81.70 and a 200 day moving average price of $82.76. Bank of Hawaii has a 1-year low of $64.96 and a 1-year high of $90.80. The stock has a market capitalization of $3.46 billion, a P/E ratio of 19.19 and a beta of 0.92.
Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, January 23rd. The bank reported $1.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.02. The firm earned $153.60 million during the quarter, compared to analyst estimates of $154.17 million. Bank of Hawaii had a net margin of 27.69% and a return on equity of 15.71%. During the same period in the previous year, the business posted $0.99 EPS. Equities research analysts expect that Bank of Hawaii will post $4.32 earnings per share for the current year.
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In other Bank of Hawaii news, Vice Chairman Mark Alan Rossi sold 30,000 shares of the business’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $88.29, for a total transaction of $2,648,700.00. Following the completion of the transaction, the insider now directly owns 66,346 shares of the company’s stock, valued at approximately $5,857,688.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Chun sold 1,200 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $85.07, for a total transaction of $102,084.00. Following the transaction, the director now directly owns 24,046 shares of the company’s stock, valued at $2,045,593.22. The disclosure for this sale can be found here. Insiders have sold a total of 104,995 shares of company stock valued at $9,074,658 over the last three months. 2.52% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Bank of Hawaii during the fourth quarter worth about $33,198,000. FMR LLC raised its stake in shares of Bank of Hawaii by 173.3% in the fourth quarter. FMR LLC now owns 467,300 shares of the bank’s stock worth $41,445,000 after buying an additional 296,330 shares in the last quarter. State Street Corp raised its stake in shares of Bank of Hawaii by 5.2% in the fourth quarter. State Street Corp now owns 1,700,306 shares of the bank’s stock worth $150,800,000 after buying an additional 83,967 shares in the last quarter. State of Tennessee Treasury Department raised its stake in shares of Bank of Hawaii by 202.0% in the third quarter. State of Tennessee Treasury Department now owns 119,600 shares of the bank’s stock worth $8,685,000 after buying an additional 80,000 shares in the last quarter. Finally, Perkins Investment Management LLC raised its stake in shares of Bank of Hawaii by 20.5% in the third quarter. Perkins Investment Management LLC now owns 418,844 shares of the bank’s stock worth $30,416,000 after buying an additional 71,232 shares in the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.
Bank of Hawaii Company Profile
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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