Bank of Hawaii (NYSE:BOH) Upgraded to Moderate Buy at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods upgraded Bank of Hawaii to “moderate buy” from “hold” and set an $85 price target, implying about 20.3% upside from the stock’s then-current price.
• Analyst views remain mostly cautious: MarketBeat reported an average “hold” rating and an average price target of $79.80, with two buy ratings and six holds.
• Bank of Hawaii’s latest quarterly results fell slightly short of expectations, reporting $1.49 in earnings per share versus a $1.51 estimate and revenue of $198.76 million versus a $202.59 million estimate.

Bank of Hawaii (NYSE:BOH - Get Free Report) was upgraded by Keefe, Bruyette & Woods from a "hold" rating to a "moderate buy" rating in a report issued on Monday, Marketbeat.com reports. The firm presently has a $85.00 price objective on the bank's stock. Keefe, Bruyette & Woods's target price suggests a potential upside of 20.30% from the stock's current price.

BOH has been the topic of a number of other reports. Stephens cut their target price on shares of Bank of Hawaii from $82.00 to $76.00 and set an "equal weight" rating on the stock in a report on Monday, November 2nd. Benchmark reiterated a "hold" rating on shares of Bank of Hawaii in a research note on Tuesday, July 28th. Piper Sandler lowered their price objective on shares of Bank of Hawaii from $85.00 to $78.00 and set a "neutral" rating on the stock in a research report on Thursday, October 1st. Weiss Ratings lowered shares of Bank of Hawaii from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, October 19th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $75.00 target price on shares of Bank of Hawaii in a report on Tuesday, October 27th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $79.80.

Bank of Hawaii Trading Up 1.5%

NYSE:BOH opened at $70.66 on Monday. The company has a market capitalization of $2.77 billion, a PE ratio of 12.51, a P/E/G ratio of 0.87 and a beta of 0.72. Bank of Hawaii has a 52-week low of $62.54 and a 52-week high of $86.31. The stock's 50 day moving average price is $71.05 and its 200 day moving average price is $76.29. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The bank reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.51 by ($0.02). The firm had revenue of $198.76 million during the quarter, compared to analysts' expectations of $202.59 million. Bank of Hawaii had a net margin of 22.89% and a return on equity of 16.35%. During the same quarter in the prior year, the firm posted $1.20 EPS. On average, research analysts anticipate that Bank of Hawaii will post 5.86 EPS for the current year.

Institutional Investors Weigh In On Bank of Hawaii

Several hedge funds have recently modified their holdings of BOH. BlackRock Inc. acquired a new position in Bank of Hawaii in the 2nd quarter valued at $470,538,000. Dimensional Fund Advisors LP increased its stake in shares of Bank of Hawaii by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,106,873 shares of the bank's stock worth $82,182,000 after acquiring an additional 22,356 shares during the period. NFJ Investment Group LLC acquired a new position in shares of Bank of Hawaii during the second quarter worth about $39,758,000. Bank of New York Mellon Corp acquired a new position in shares of Bank of Hawaii during the second quarter worth about $37,864,000. Finally, Bank of America Corp DE raised its holdings in Bank of Hawaii by 254.4% during the first quarter. Bank of America Corp DE now owns 360,138 shares of the bank's stock worth $26,740,000 after purchasing an additional 258,508 shares in the last quarter. 82.18% of the stock is owned by institutional investors and hedge funds.

Bank of Hawaii Company Profile

Bank of Hawaii Corporation is a bank holding company headquartered in Honolulu. Founded in 1897, it provides banking and financial services to individuals, businesses and public-sector organizations, primarily in Hawaii.

The company offers consumer banking services such as checking and savings accounts, certificates of deposit, mortgages, personal loans and credit cards. It also provides commercial banking, including business lending, deposit accounts and cash management services.

Additional services include wealth management, investment and trust services.