Keefe, Bruyette & Woods Upgrades Bank of Hawaii (NYSE:BOH) to Market Perform

Bank of Hawaii (NYSE:BOH) was upgraded by Keefe, Bruyette & Woods from an “underperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $67.00 price target on the bank’s stock, up from their prior price target of $60.00. Keefe, Bruyette & Woods’ price target points to a potential upside of 6.98% from the company’s previous close.

A number of other analysts also recently issued reports on BOH. DA Davidson raised their price target on shares of Bank of Hawaii from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Jefferies Financial Group raised their target price on Bank of Hawaii from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Finally, Piper Sandler lowered Bank of Hawaii from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $70.00 to $61.00 in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.40.

Bank of Hawaii Stock Performance

Shares of Bank of Hawaii stock opened at $62.63 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. The business’s 50 day moving average price is $65.04 and its 200 day moving average price is $61.15. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 16.14 and a beta of 1.05. Bank of Hawaii has a one year low of $45.56 and a one year high of $75.19.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Bank of Hawaii had a net margin of 14.54% and a return on equity of 12.25%. The firm had revenue of $255.62 million during the quarter, compared to analysts’ expectations of $157.12 million. During the same period in the prior year, the company posted $1.12 EPS. On average, research analysts predict that Bank of Hawaii will post 3.45 EPS for the current year.

Insider Transactions at Bank of Hawaii

In related news, insider Taryn L. Salmon sold 2,364 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $67.80, for a total transaction of $160,279.20. Following the transaction, the insider now owns 10,785 shares of the company’s stock, valued at approximately $731,223. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.11% of the company’s stock.

Institutional Trading of Bank of Hawaii

Several hedge funds have recently made changes to their positions in BOH. Vanguard Group Inc. increased its stake in Bank of Hawaii by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 4,650,102 shares of the bank’s stock worth $336,946,000 after buying an additional 87,919 shares during the period. Victory Capital Management Inc. raised its stake in shares of Bank of Hawaii by 13.1% in the second quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock valued at $93,533,000 after acquiring an additional 189,878 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Bank of Hawaii by 14.2% in the second quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock valued at $45,167,000 after acquiring an additional 98,465 shares in the last quarter. Swedbank AB grew its stake in Bank of Hawaii by 3.6% during the 2nd quarter. Swedbank AB now owns 725,000 shares of the bank’s stock worth $41,477,000 after purchasing an additional 25,000 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Bank of Hawaii by 8.7% during the 2nd quarter. American Century Companies Inc. now owns 675,615 shares of the bank’s stock worth $38,652,000 after purchasing an additional 54,078 shares in the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

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.