Bank of Hawaii (NYSE:BOH) Sets New 1-Year High – Here’s Why

Shares of Bank of Hawaii Co. (NYSE:BOH) hit a new 52-week high on Wednesday . The stock traded as high as $79.41 and last traded at $78.99, with a volume of 13956 shares trading hands. The stock had previously closed at $73.18.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BOH. Barclays boosted their price target on shares of Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods raised their price target on Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Piper Sandler increased their price target on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Finally, DA Davidson raised their price target on Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $64.80.

Bank of Hawaii Stock Performance

The firm has a market capitalization of $3.20 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 7.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a 50-day moving average price of $65.75 and a 200-day moving average price of $62.45.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.11. The company had revenue of $265.76 million during the quarter, compared to analyst estimates of $160.29 million. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. During the same period last year, the business earned $1.17 EPS. On average, research analysts expect that Bank of Hawaii Co. will post 3.57 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, October 29th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, October 29th. This represents a $2.80 dividend on an annualized basis and a yield of 3.48%. Bank of Hawaii’s dividend payout ratio is currently 84.08%.

Insider Transactions at Bank of Hawaii

In related news, insider Matthew Emerson sold 1,355 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the sale, the insider now owns 13,717 shares of the company’s stock, valued at $991,327.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.11% of the company’s stock.

Institutional Trading of Bank of Hawaii

Several institutional investors have recently modified their holdings of BOH. Victory Capital Management Inc. boosted its position in shares of Bank of Hawaii by 13.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock valued at $93,533,000 after purchasing an additional 189,878 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Bank of Hawaii by 14.2% in the second quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock worth $45,167,000 after buying an additional 98,465 shares during the last quarter. Swedbank AB increased its holdings in shares of Bank of Hawaii by 3.6% in the second quarter. Swedbank AB now owns 725,000 shares of the bank’s stock valued at $41,477,000 after buying an additional 25,000 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of 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 acquiring an additional 54,078 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Bank of Hawaii by 0.5% in the 2nd quarter. Natixis Advisors LLC now owns 295,878 shares of the bank’s stock worth $16,927,000 after acquiring an additional 1,522 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 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.