Bank of Hawaii (NYSE:BOH) Shares Gap Up – What’s Next?

Bank of Hawaii Co. (NYSE:BOH) gapped up prior to trading on Monday . The stock had previously closed at $71.11, but opened at $73.18. Bank of Hawaii shares last traded at $74.33, with a volume of 75,055 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BOH shares. Stephens began coverage on Bank of Hawaii in a research report on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 target price for the company. DA Davidson lifted their target price on shares of Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Barclays raised their price target on shares of Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods upped their price objective on Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler boosted their price target on Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $71.83.

Bank of Hawaii Stock Up 2.4 %

The firm’s 50-day moving average is $73.39 and its two-hundred day moving average is $69.16. 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 cap of $2.89 billion, a P/E ratio of 21.91 and a beta of 1.05.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, January 27th. The bank reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.02). Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. On average, equities research analysts anticipate that Bank of Hawaii Co. will post 3.54 earnings per share for the current year.

Insider Transactions at Bank of Hawaii

In other news, insider Matthew Emerson sold 1,355 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total value of $97,925.85. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bank of Hawaii

Several hedge funds have recently added to or reduced their stakes in BOH. Dimensional Fund Advisors LP boosted its position in shares of Bank of Hawaii by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock worth $45,167,000 after purchasing an additional 98,465 shares in the last quarter. Marshall Wace LLP bought a new position in Bank of Hawaii during the second quarter worth about $1,344,000. Squarepoint Ops LLC acquired a new position in Bank of Hawaii in the second quarter valued at about $2,230,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Bank of Hawaii in the second quarter worth about $106,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Bank of Hawaii by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,878 shares of the bank’s stock valued at $1,252,000 after purchasing an additional 1,061 shares in the last quarter. 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.