Bank of Hawaii (NYSE:BOH) Reaches New 1-Year High – Still a Buy?
by Tristan Rich · The Markets DailyBank of Hawaii Corporation (NYSE:BOH – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $80.61 and last traded at $79.61, with a volume of 30482 shares traded. The stock had previously closed at $79.03.
Analyst Ratings Changes
Several research firms have recently commented on BOH. Barclays lifted their target price on Bank of Hawaii from $75.00 to $83.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bank of Hawaii in a research report on Monday, December 29th. Stephens restated an “overweight” rating on shares of Bank of Hawaii in a research report on Tuesday, January 27th. DA Davidson raised their target price on shares of Bank of Hawaii from $73.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, January 27th. Finally, Zacks Research raised shares of Bank of Hawaii from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.80.
Bank of Hawaii Trading Up 1.3%
The company has a market capitalization of $3.18 billion, a P/E ratio of 17.33, a PEG ratio of 0.80 and a beta of 0.75. The business has a 50 day moving average price of $73.08 and a 200 day moving average price of $68.22. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37.
Bank of Hawaii (NYSE:BOH – Get Free Report) last released its quarterly earnings data on Monday, January 26th. The bank reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.14. Bank of Hawaii had a net margin of 19.30% and a return on equity of 14.42%. The business had revenue of $189.65 million for the quarter, compared to analyst estimates of $184.83 million. During the same quarter last year, the firm earned $0.85 EPS. Analysts anticipate that Bank of Hawaii Corporation will post 3.97 EPS for the current year.
Bank of Hawaii Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $0.70 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.5%. Bank of Hawaii’s dividend payout ratio is currently 60.61%.
Insider Buying and Selling
In other Bank of Hawaii news, CEO Peter S. Ho sold 15,000 shares of Bank of Hawaii stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $67.87, for a total transaction of $1,018,050.00. Following the transaction, the chief executive officer directly owned 156,774 shares in the company, valued at approximately $10,640,251.38. The trade was a 8.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.07% of the company’s stock.
Institutional Investors Weigh In On Bank of Hawaii
Several institutional investors have recently added to or reduced their stakes in the stock. Danske Bank A S bought a new position in Bank of Hawaii during the 4th quarter worth about $27,000. Farther Finance Advisors LLC grew its holdings in shares of Bank of Hawaii by 150.0% during the third quarter. Farther Finance Advisors LLC now owns 450 shares of the bank’s stock worth $30,000 after buying an additional 270 shares in the last quarter. Quarry LP raised its position in Bank of Hawaii by 1,497.2% in the 3rd quarter. Quarry LP now owns 575 shares of the bank’s stock valued at $38,000 after buying an additional 539 shares during the last quarter. Strs Ohio bought a new stake in Bank of Hawaii in the 1st quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC boosted its position in Bank of Hawaii by 461.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 623 shares of the bank’s stock worth $42,000 after acquiring an additional 512 shares during the last quarter. 82.18% of the stock is owned by institutional investors.
About Bank of Hawaii
Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.
The bank offers a comprehensive suite of personal and business banking products and services.