Bank of Hawaii Co. (NYSE:BOH) Given Consensus Rating of "Reduce" by Brokerages

Shares of Bank of Hawaii Co. (NYSE:BOH - Get Free Report) have been given a consensus recommendation of "Reduce" by the six ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $73.17.

BOH has been the subject of several research reports. Barclays boosted their price objective on Bank of Hawaii from $64.00 to $67.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 22nd. DA Davidson upped their target price on Bank of Hawaii from $75.00 to $79.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Piper Sandler lifted their price target on Bank of Hawaii from $66.00 to $68.00 and gave the stock an "underweight" rating in a report on Tuesday, January 28th.

Bank of Hawaii Price Performance

Shares of NYSE:BOH traded down $0.31 during midday trading on Wednesday, reaching $68.09. 569,795 shares of the company's stock traded hands, compared to its average volume of 375,363. The company has a market cap of $2.71 billion, a P/E ratio of 19.68 and a beta of 0.76. The company has a fifty day simple moving average of $66.43 and a two-hundred day simple moving average of $71.02. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71. Bank of Hawaii has a 1 year low of $54.50 and a 1 year high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last announced its earnings results on Monday, April 21st. The bank reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. Bank of Hawaii had a net margin of 14.47% and a return on equity of 11.81%. The business had revenue of $169.87 million for the quarter, compared to analyst estimates of $168.65 million. During the same quarter last year, the business earned $0.87 earnings per share. Equities analysts predict that Bank of Hawaii will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.11%. Bank of Hawaii's dividend payout ratio is presently 78.65%.

Insider Buying and Selling

In other news, insider Taryn L. Salmon sold 1,652 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $66.15, for a total transaction of $109,279.80. Following the sale, the insider now owns 6,442 shares of the company's stock, valued at approximately $426,138.30. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bank of Hawaii

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC grew its stake in Bank of Hawaii by 0.9% during the 4th quarter. Perigon Wealth Management LLC now owns 16,474 shares of the bank's stock worth $1,168,000 after purchasing an additional 154 shares in the last quarter. Mariner LLC boosted its stake in shares of Bank of Hawaii by 1.7% during the fourth quarter. Mariner LLC now owns 9,076 shares of the bank's stock worth $647,000 after buying an additional 154 shares during the period. Wealth Alliance LLC increased its position in Bank of Hawaii by 5.0% in the 1st quarter. Wealth Alliance LLC now owns 3,270 shares of the bank's stock valued at $226,000 after acquiring an additional 155 shares during the period. Cetera Investment Advisers raised its stake in shares of Bank of Hawaii by 3.7% during the fourth quarter. Cetera Investment Advisers now owns 4,457 shares of the bank's stock worth $318,000 after purchasing an additional 158 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Bank of Hawaii by 80.2% in the 1st quarter. Versant Capital Management Inc now owns 391 shares of the bank's stock valued at $27,000 after buying an additional 174 shares during the last quarter. Hedge funds and other 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.