Bank of Hawaii (NYSE:BOH) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Bank of Hawaii (NYSE:BOH) from a "hold" to a "sell" rating in a research note issued Saturday.
• Analysts remain mixed overall—three Buy and four Hold ratings—with an average consensus rating of "Hold" and an average price target of $85.40, while individual firms moved targets between about $78 and $86.
• The bank slightly missed quarterly expectations, reporting $1.30 EPS versus a $1.33 consensus and $192.32M in revenue versus $193.53M, with a market cap of $3.06B and a P/E of 15.57.

Bank of Hawaii (NYSE:BOH - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Several other brokerages also recently commented on BOH. DA Davidson increased their price objective on shares of Bank of Hawaii from $77.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday. Barclays increased their price objective on shares of Bank of Hawaii from $83.00 to $86.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 7th. Weiss Ratings raised shares of Bank of Hawaii from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 30th. Zacks Research downgraded shares of Bank of Hawaii from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Finally, Piper Sandler dropped their price target on shares of Bank of Hawaii from $84.00 to $78.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $85.40.

Bank of Hawaii Price Performance

Shares of NYSE:BOH opened at $77.08 on Friday. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.72 and a beta of 0.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.69 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $76.18 and a 200 day simple moving average of $71.19. Bank of Hawaii has a one year low of $59.36 and a one year high of $82.74.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings data on Monday, April 20th. The bank reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). The company had revenue of $192.32 million during the quarter, compared to the consensus estimate of $193.53 million. Bank of Hawaii had a net margin of 20.46% and a return on equity of 14.97%. During the same period in the previous year, the company earned $0.97 EPS. Research analysts predict that Bank of Hawaii will post 5.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank of Hawaii

Several large investors have recently modified their holdings of BOH. Balyasny Asset Management L.P. raised its stake in shares of Bank of Hawaii by 122.3% during 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 last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Bank of Hawaii during the first quarter valued at $34,385,000. Nuveen LLC increased its position in shares of Bank of Hawaii by 455.6% during the fourth quarter. Nuveen LLC now owns 491,187 shares of the bank's stock worth $33,582,000 after buying an additional 402,774 shares during the period. Verition Fund Management LLC increased its position in shares of Bank of Hawaii by 1,699.7% during the third quarter. Verition Fund Management LLC now owns 265,834 shares of the bank's stock worth $17,449,000 after buying an additional 251,063 shares during the period. Finally, Goldman Sachs Group Inc. increased 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 buying an additional 229,806 shares during the period. 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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