Bank of Hawaii (NYSE:BOH) Stock Price Down 5.5% - Here's Why

Key Points

• Bank of Hawaii's stock prices fell 5.5% on Monday, closing at $62.08, with trading volume significantly down by 46% compared to the average.
• Barclays increased their price target for the company from $67.00 to $68.00 but maintained an "underweight" rating, reflecting analyst caution on the stock's outlook.
• The bank recently declared a quarterly dividend of $0.70 per share, reflecting an annual yield of 4.44%, with a payout ratio of approximately 78.65%.

Bank of Hawaii Corporation (NYSE:BOH - Get Free Report) fell 5.5% on Monday . The company traded as low as $62.29 and last traded at $62.08. 225,002 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 416,579 shares. The stock had previously closed at $65.69.

Wall Street Analyst Weigh In

Separately, Barclays boosted their price target on Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $77.20.

Bank of Hawaii Stock Performance

The stock has a market capitalization of $2.50 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.06 and a beta of 0.77. The stock has a 50 day moving average of $67.55 and a 200 day moving average of $68.53. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The bank reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $0.02. The firm had revenue of $174.48 million during the quarter, compared to the consensus estimate of $177.82 million. Bank of Hawaii had a return on equity of 12.16% and a net margin of 15.12%. During the same period in the prior year, the business earned $0.81 EPS. Equities analysts predict that Bank of Hawaii Corporation will post 3.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.44%. Bank of Hawaii's dividend payout ratio (DPR) is presently 78.65%.

Institutional Trading of Bank of Hawaii

Several institutional investors have recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Bank of Hawaii by 28.5% during the second quarter. CWM LLC now owns 2,111 shares of the bank's stock valued at $143,000 after purchasing an additional 468 shares during the last quarter. Callan Family Office LLC acquired a new position in Bank of Hawaii during the second quarter valued at $430,000. KLP Kapitalforvaltning AS increased its position in Bank of Hawaii by 10.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 8,400 shares of the bank's stock worth $567,000 after purchasing an additional 800 shares during the last quarter. DAVENPORT & Co LLC increased its position in Bank of Hawaii by 11.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 23,832 shares of the bank's stock worth $1,609,000 after purchasing an additional 2,477 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Bank of Hawaii by 7.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 23,661 shares of the bank's stock worth $1,597,000 after purchasing an additional 1,637 shares during the last quarter. Institutional investors and hedge funds 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.

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