Bank of Hawaii (NYSE:BOH) Hits New 1-Year High – Time to Buy?

Bank of Hawaii Co. (NYSE:BOH)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $82.36 and last traded at $81.96, with a volume of 240974 shares traded. The stock had previously closed at $80.28.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BOH shares. DA Davidson upped their target price on Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Stephens started coverage on shares of Bank of Hawaii in a research note on Wednesday. They issued an “overweight” rating and a $90.00 price objective for the company. 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. Keefe, Bruyette & Woods upped their target price on shares of Bank of Hawaii from $67.00 to $74.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler raised their price target on shares of Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Bank of Hawaii currently has an average rating of “Hold” and an average price target of $69.00.

Bank of Hawaii Trading Up 1.3 %

The business has a 50 day simple moving average of $69.50 and a 200-day simple moving average of $64.40. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 5.29 and a beta of 1.03. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. The business had revenue of $265.76 million during the quarter, compared to analysts’ expectations of $160.29 million. During the same period in the prior year, the business earned $1.17 EPS. As a group, equities analysts expect that Bank of Hawaii Co. will post 3.52 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, November 29th. Bank of Hawaii’s payout ratio is presently 84.08%.

Insider Buying and Selling at Bank of Hawaii

In other news, insider Matthew Emerson sold 1,355 shares of Bank of Hawaii stock in a transaction that occurred 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 in the company, valued at $991,327.59. This trade represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Bank of Hawaii by 5.0% during the 3rd quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock worth $140,897,000 after purchasing an additional 106,717 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Bank of Hawaii by 13.1% during the second quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock worth $93,533,000 after buying an additional 189,878 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Bank of Hawaii by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank’s stock worth $94,872,000 after acquiring an additional 35,187 shares in the last quarter. Geode Capital Management LLC lifted its stake in Bank of Hawaii by 1.2% in the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank’s stock valued at $57,025,000 after acquiring an additional 10,357 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Bank of Hawaii by 14.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock valued at $45,167,000 after acquiring an additional 98,465 shares during the period. 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.