Bank of Hawaii (NYSE:BOH) Now Covered by Analysts at Piper Sandler

Key Points

• Piper Sandler has reiterated a neutral rating for Bank of Hawaii (NYSE:BOH) with a price target of $71.00, suggesting an upside potential of 8.20% from its current price.
• Several analysts have varied their ratings and price targets, with Stephens lowering their target to $76.00, while Barclays raised theirs to $68.00.
• Bank of Hawaii reported a quarterly EPS of $1.06, exceeding analysts' expectations of $1.04, despite revenue falling short at $174.48 million against expectations of $177.82 million.

Piper Sandler assumed coverage on shares of Bank of Hawaii (NYSE:BOH - Free Report) in a report issued on Thursday morning, MarketBeat.com reports. The firm issued a neutral rating and a $71.00 target price on the bank's stock.

BOH has been the topic of a number of other reports. Barclays raised 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. 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 report on Tuesday, July 29th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Bank of Hawaii presently has a consensus rating of "Hold" and an average price target of $75.00.

Bank of Hawaii Stock Performance

NYSE BOH traded down $0.7650 on Thursday, hitting $67.9150. 400,483 shares of the company traded hands, compared to its average volume of 427,378. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 0.89 and a beta of 0.80. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.40. The business's 50 day moving average price is $66.36 and its 200-day moving average price is $67.38. Bank of Hawaii has a 52-week low of $57.44 and a 52-week high of $82.70.

Bank of Hawaii (NYSE:BOH - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The bank reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.02. The business had revenue of $174.48 million for the quarter, compared to analysts' expectations of $177.82 million. Bank of Hawaii had a return on equity of 12.67% and a net margin of 16.30%.During the same period last year, the firm earned $0.81 earnings per share. Equities analysts expect that Bank of Hawaii will post 3.97 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.70 dividend. The ex-dividend date is Friday, August 29th. This represents a $2.80 annualized dividend and a yield of 4.1%. Bank of Hawaii's dividend payout ratio (DPR) is currently 73.49%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. purchased a new position in shares of Bank of Hawaii during the fourth quarter valued at approximately $54,309,000. 140 Summer Partners LP purchased a new position in shares of Bank of Hawaii during the first quarter valued at approximately $41,633,000. Ameriprise Financial Inc. boosted its position in shares of Bank of Hawaii by 558.1% during the fourth quarter. Ameriprise Financial Inc. now owns 646,890 shares of the bank's stock valued at $46,084,000 after buying an additional 548,599 shares during the period. Norges Bank purchased a new position in shares of Bank of Hawaii during the second quarter valued at approximately $30,569,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Bank of Hawaii by 23.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,180,744 shares of the bank's stock valued at $150,406,000 after buying an additional 418,055 shares during the period. Hedge funds and other institutional investors 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.