Piper Sandler Trims Bank of Hawaii (NYSE:BOH) Target Price to $60.00

Bank of Hawaii (NYSE:BOH) had its price target trimmed by Piper Sandler from $65.00 to $60.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Other analysts have also recently issued research reports about the stock. StockNews.com raised shares of Bank of Hawaii to a sell rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods lowered their price objective on shares of Bank of Hawaii from $57.00 to $55.00 and set an underperform rating for the company in a research report on Tuesday, January 23rd. Barclays initiated coverage on shares of Bank of Hawaii in a research report on Friday, March 8th. They set an underweight rating and a $51.00 price objective for the company. Finally, Jefferies Financial Group reduced their target price on shares of Bank of Hawaii from $67.00 to $62.00 and set a hold rating on the stock in a report on Monday, April 8th. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Bank of Hawaii currently has an average rating of Reduce and a consensus price target of $52.20.

Bank of Hawaii Stock Down 0.9 %

Shares of NYSE BOH opened at $58.60 on Tuesday. Bank of Hawaii has a 12-month low of $30.83 and a 12-month high of $75.19. The stock has a market cap of $2.33 billion, a PE ratio of 15.10, a P/E/G ratio of 2.04 and a beta of 1.06. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $60.22 and a 200 day moving average of $60.85.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Friday, April 26th. The bank reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.05). Bank of Hawaii had a net margin of 15.91% and a return on equity of 13.25%. The firm had revenue of $252.64 million during the quarter, compared to analysts’ expectations of $160.79 million. During the same period last year, the company earned $1.14 EPS. As a group, sell-side analysts predict that Bank of Hawaii will post 3.6 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.78%. Bank of Hawaii’s payout ratio is 72.16%.

Institutional Investors Weigh In On Bank of Hawaii

A number of hedge funds and other institutional investors have recently modified their holdings of BOH. Congress Asset Management Co. MA grew its position in shares of Bank of Hawaii by 0.4% in the 4th quarter. Congress Asset Management Co. MA now owns 48,987 shares of the bank’s stock valued at $3,550,000 after buying an additional 185 shares during the last quarter. Harrington Investments INC boosted its holdings in shares of Bank of Hawaii by 1.1% in the fourth quarter. Harrington Investments INC now owns 18,694 shares of the bank’s stock valued at $1,355,000 after acquiring an additional 200 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Bank of Hawaii by 2.5% in the fourth quarter. Bleakley Financial Group LLC now owns 8,424 shares of the bank’s stock valued at $610,000 after acquiring an additional 206 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Bank of Hawaii by 17.1% in the third quarter. Covestor Ltd now owns 1,429 shares of the bank’s stock valued at $71,000 after acquiring an additional 209 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. boosted its holdings in shares of Bank of Hawaii by 6.1% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,773 shares of the bank’s stock valued at $346,000 after acquiring an additional 273 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

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.