Bank of Hawaii (NYSE:BOH) Shares Gap Down to $65.79

Shares of Bank of Hawaii Co. (NYSE:BOH) gapped down before the market opened on Monday . The stock had previously closed at $65.79, but opened at $63.95. Bank of Hawaii shares last traded at $65.72, with a volume of 43,957 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BOH shares. Barclays dropped their target price on shares of Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 23rd. Piper Sandler lowered shares of Bank of Hawaii from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $70.00 to $61.00 in a report on Monday. Jefferies Financial Group raised their target price on Bank of Hawaii from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. DA Davidson boosted their target price on Bank of Hawaii from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods increased their price target on Bank of Hawaii from $58.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $59.00.

Bank of Hawaii Stock Down 2.9 %

The company has a market cap of $2.54 billion, a price-to-earnings ratio of 16.96 and a beta of 1.06. 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 stock’s fifty day moving average is $60.89 and its two-hundred day moving average is $60.40.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. The company had revenue of $255.62 million during the quarter, compared to analysts’ expectations of $157.12 million. During the same period last year, the company earned $1.12 earnings per share. Sell-side analysts predict that Bank of Hawaii Co. will post 3.37 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.80 annualized dividend and a yield of 4.38%. Bank of Hawaii’s dividend payout ratio is currently 72.16%.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in shares of Bank of Hawaii in the fourth quarter worth about $41,000. Quest Partners LLC bought a new position in Bank of Hawaii in the 4th quarter valued at $41,000. Strs Ohio bought a new position in Bank of Hawaii in the 4th quarter valued at $50,000. Rothschild Investment LLC purchased a new position in shares of Bank of Hawaii during the 2nd quarter valued at $172,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Bank of Hawaii in the fourth quarter worth $217,000. Institutional investors 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.