Bank of Hawaii (NYSE:BOH) Downgraded by Stephens to Equal Weight

Key Points

• Stephens downgraded Bank of Hawaii from “overweight” to “equal weight” and set an $85 price target, implying approximately 6.7% upside from the reported $79.66 share price.
• Analyst sentiment is generally cautious: the stock has an average “Hold” rating, with two Buy ratings and six Hold ratings, and a consensus target price of $85.
• Bank of Hawaii slightly exceeded quarterly EPS expectations, reporting $1.47 versus the $1.46 estimate, although revenue of $196.9 million came in below the $199.5 million forecast.

Bank of Hawaii (NYSE:BOH - Get Free Report) was downgraded by research analysts at Stephens from an "overweight" rating to an "equal weight" rating in a report issued on Thursday, Marketbeat reports. They presently have a $85.00 price objective on the bank's stock. Stephens' price target points to a potential upside of 6.71% from the company's current price.

A number of other research firms have also weighed in on BOH. Benchmark restated a "hold" rating on shares of Bank of Hawaii in a research note on Tuesday, July 28th. Barclays lowered their price target on shares of Bank of Hawaii from $88.00 to $85.00 and set an "equal weight" rating for the company in a report on Tuesday, July 28th. Keefe, Bruyette & Woods dropped their price objective on shares of Bank of Hawaii from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Monday. Weiss Ratings restated a "buy (b)" rating on shares of Bank of Hawaii in a report on Friday, July 24th. Finally, Wall Street Zen cut shares of Bank of Hawaii from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of Hawaii currently has an average rating of "Hold" and a consensus target price of $85.00.

Bank of Hawaii Trading Down 1.5%

BOH opened at $79.66 on Thursday. The business has a fifty day moving average price of $80.45 and a 200 day moving average price of $77.82. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.70. Bank of Hawaii has a 12 month low of $59.36 and a 12 month high of $86.31. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 0.92 and a beta of 0.71.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.01. The company had revenue of $196.90 million for the quarter, compared to analyst estimates of $199.51 million. Bank of Hawaii had a return on equity of 15.72% and a net margin of 21.84%.During the same quarter last year, the company earned $1.06 EPS. Sell-side analysts expect that Bank of Hawaii will post 5.88 earnings per share for the current fiscal year.

Insider Activity at Bank of Hawaii

In related news, insider Marco A. Abbruzzese sold 2,441 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $81.59, for a total value of $199,161.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bank of Hawaii

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Bank of Hawaii by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 4,565,434 shares of the bank's stock valued at $312,139,000 after purchasing an additional 26,821 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Bank of Hawaii by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,106,873 shares of the bank's stock valued at $82,182,000 after buying an additional 22,356 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Bank of Hawaii by 122.3% in the third quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank's stock valued at $66,464,000 after acquiring an additional 557,148 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Bank of Hawaii by 36.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 865,384 shares of the bank's stock worth $59,166,000 after acquiring an additional 229,806 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Bank of Hawaii by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,552 shares of the bank's stock valued at $35,043,000 after acquiring an additional 1,592 shares during the period. Hedge funds and other institutional investors own 82.18% of the company's stock.

About Bank of Hawaii

Bank of Hawaii NYSE: BOH is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.

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