Bank of Hawaii (NYSE:BOH) Hits New 1-Year High – Time to Buy?

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BOH shares. Zacks Research cut Bank of Hawaii from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Piper Sandler reduced their price objective on Bank of Hawaii from $84.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Weiss Ratings upgraded Bank of Hawaii from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. DA Davidson upped their target price on Bank of Hawaii from $77.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods raised their price target on Bank of Hawaii from $91.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of Hawaii has an average rating of “Hold” and an average target price of $85.40.

Bank of Hawaii Trading Up 2.4%

The business has a fifty day moving average price of $78.28 and a 200 day moving average price of $75.56. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $3.31 billion, a PE ratio of 16.86, a P/E/G ratio of 0.85 and a beta of 0.71.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Monday, April 20th. The bank reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). Bank of Hawaii had a net margin of 20.46% and a return on equity of 14.97%. The company had revenue of $192.32 million during the quarter, compared to analyst estimates of $193.53 million. During the same quarter in the prior year, the company posted $0.97 earnings per share. Analysts expect that Bank of Hawaii Corporation will post 5.91 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, May 29th. Bank of Hawaii’s payout ratio is presently 56.57%.

Institutional Trading of Bank of Hawaii

Hedge funds and other institutional investors have recently modified their holdings of the business. DF Dent & Co. Inc. boosted its holdings in Bank of Hawaii by 4.8% in the third quarter. DF Dent & Co. Inc. now owns 3,433 shares of the bank’s stock valued at $225,000 after purchasing an additional 157 shares during the last quarter. MAI Capital Management grew its stake in Bank of Hawaii by 5.7% during the 3rd quarter. MAI Capital Management now owns 2,972 shares of the bank’s stock valued at $195,000 after purchasing an additional 160 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Bank of Hawaii by 11.8% during the 4th quarter. Hantz Financial Services Inc. now owns 1,520 shares of the bank’s stock worth $104,000 after purchasing an additional 160 shares during the last quarter. First Affirmative Financial Network increased its holdings in Bank of Hawaii by 5.6% during the 3rd quarter. First Affirmative Financial Network now owns 3,353 shares of the bank’s stock worth $220,000 after purchasing an additional 178 shares during the last quarter. Finally, CoreFirst Bank & Trust raised its holdings in Bank of Hawaii by 14.6% in the first quarter. CoreFirst Bank & Trust now owns 1,410 shares of the bank’s stock valued at $105,000 after acquiring an additional 180 shares in the last quarter. 82.18% of the stock is owned by hedge funds and other institutional investors.

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.