Bank of Hawaii (NYSE:BOH) Sets New 12-Month High – What’s Next?

Bank of Hawaii Co. (NYSE:BOH) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $79.41 and last traded at $78.99, with a volume of 13956 shares trading hands. The stock had previously closed at $73.18.

Analyst Ratings Changes

Several research firms recently commented on BOH. Barclays raised their price objective on shares of Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Piper Sandler lifted their price objective on shares of Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, DA Davidson raised their price target on Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, Bank of Hawaii has an average rating of “Hold” and a consensus target price of $64.80.

Bank of Hawaii Stock Up 10.0 %

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $3.20 billion, a P/E ratio of 24.09, a P/E/G ratio of 7.55 and a beta of 1.03. The company’s 50-day moving average price is $65.75 and its 200 day moving average price is $62.45.

Bank of Hawaii (NYSE:BOH) last announced its earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $265.76 million during the quarter, compared to analyst estimates of $160.29 million. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. During the same quarter in the previous year, the business earned $1.17 earnings per share. As a group, equities analysts expect that Bank of Hawaii Co. will post 3.57 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, October 29th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, October 29th. Bank of Hawaii’s dividend payout ratio is currently 84.08%.

Insiders Place Their Bets

In other news, insider Matthew Emerson sold 1,355 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the sale, the insider now directly owns 13,717 shares of the company’s stock, valued at $991,327.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Bank of Hawaii in the 2nd quarter worth $106,000. Point72 DIFC Ltd acquired a new position in shares of Bank of Hawaii during the second quarter worth about $119,000. UMB Bank n.a. raised its holdings in shares of Bank of Hawaii by 5,508.3% in the 3rd quarter. UMB Bank n.a. now owns 2,692 shares of the bank’s stock valued at $169,000 after purchasing an additional 2,644 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Bank of Hawaii during the 2nd quarter worth about $172,000. Finally, Crestwood Advisors Group LLC acquired a new position in Bank of Hawaii in the third quarter valued at approximately $207,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

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.