Bank of Hawaii (NYSE:BOH) Trading Down 5.5% - What's Next?

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) shares dropped 5.5% on Monday . The stock traded as low as $62.29 and last traded at $62.08. Approximately 225,002 shares traded hands during trading, a decline of 46% from the average daily volume of 416,579 shares. The stock had previously closed at $65.69.

Analysts Set New Price Targets

BOH has been the topic of several analyst reports. Stephens decreased their price target on Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Tuesday. Barclays increased their price objective on Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $74.40.

Bank of Hawaii Stock Performance

The business has a fifty day simple moving average of $67.06 and a 200-day simple moving average of $68.37. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The firm has a market cap of $2.44 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.00 and a beta of 0.77.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.02. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%. The firm had revenue of $174.48 million during the quarter, compared to the consensus estimate of $177.82 million. During the same period last year, the company earned $0.81 earnings per share. On average, sell-side analysts predict that Bank of Hawaii Corporation will post 3.97 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 4.6%. Bank of Hawaii's dividend payout ratio (DPR) is presently 73.49%.

Institutional Investors Weigh In On Bank of Hawaii

Several institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. lifted its position in shares of Bank of Hawaii by 7.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,526 shares of the bank's stock valued at $846,000 after buying an additional 835 shares in the last quarter. R Squared Ltd purchased a new position in shares of Bank of Hawaii during the 2nd quarter valued at about $253,000. CWM LLC lifted its position in shares of Bank of Hawaii by 28.5% during the 2nd quarter. CWM LLC now owns 2,111 shares of the bank's stock valued at $143,000 after buying an additional 468 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of Bank of Hawaii during the 2nd quarter valued at about $430,000. Finally, KLP Kapitalforvaltning AS raised its stake in Bank of Hawaii by 10.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 8,400 shares of the bank's stock valued at $567,000 after purchasing an additional 800 shares during the period. 82.18% of the stock is owned by hedge funds and other institutional investors.

About Bank of Hawaii

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.