Bank of Hawaii (NYSE:BOH) Sets New 12-Month High - Here's Why

Key Points

• Bank of Hawaii (NYSE:BOH) hit a new 52-week high, trading as high as $83.83 after closing at $82.08 the prior day, with shares up about 1.9% in the session.
• Analyst sentiment is mixed but generally cautious: recent moves included rating downgrades from Zacks Research and Wall Street Zen, while Stephens and Barclays raised their price targets. The stock’s consensus rating remains Hold with an average target price of $85.80.
• The bank recently reported quarterly EPS of $1.30, slightly below estimates, and paid a quarterly dividend of $0.70 per share, implying an annualized yield of about 3.3%.

Shares of Bank of Hawaii Corporation (NYSE:BOH - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $83.83 and last traded at $83.8630, with a volume of 114977 shares traded. The stock had previously closed at $82.08.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BOH. Zacks Research lowered Bank of Hawaii from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Stephens upped their target price on shares of Bank of Hawaii from $82.00 to $86.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Bank of Hawaii from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Barclays lifted their price target on shares of Bank of Hawaii from $86.00 to $88.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. Finally, DA Davidson lifted their target price on shares of Bank of Hawaii from $77.00 to $82.00 and gave the company a "neutral" rating in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $85.80.

Bank of Hawaii Trading Up 1.9%

The company has a 50-day moving average price of $79.07 and a 200-day moving average price of $76.42. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 0.87 and a beta of 0.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 0.69.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its earnings results on Monday, April 20th. The bank reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). The business had revenue of $192.32 million for the quarter, compared to analysts' expectations of $193.53 million. Bank of Hawaii had a return on equity of 14.97% and a net margin of 20.46%.During the same quarter in the previous year, the firm earned $0.97 EPS. As a group, research analysts forecast that Bank of Hawaii Corporation will post 5.89 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.80 dividend on an annualized basis and a yield of 3.3%. Bank of Hawaii's payout ratio is 56.57%.

Institutional Investors Weigh In On Bank of Hawaii

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S purchased a new position in Bank of Hawaii during the 4th quarter worth $27,000. Western Wealth Management LLC purchased a new stake in shares of Bank of Hawaii in the first quarter valued at about $33,000. SHP Wealth Management acquired a new stake in shares of Bank of Hawaii during the fourth quarter worth about $34,000. Quarry LP boosted its stake in shares of Bank of Hawaii by 1,497.2% during the third quarter. Quarry LP now owns 575 shares of the bank's stock worth $38,000 after buying an additional 539 shares during the period. Finally, Strs Ohio purchased a new position in shares of Bank of Hawaii during the first quarter worth about $41,000. 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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