DA Davidson Increases Bank of Hawaii (NYSE:BOH) Price Target to $74.00

Bank of Hawaii (NYSE:BOH) had its target price hoisted by DA Davidson from $65.00 to $74.00 in a report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock.

Other research analysts have also issued reports about the company. Piper Sandler upped their price objective on Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price target 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. Barclays raised their price target on shares of Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Jefferies Financial Group boosted their price objective on shares of Bank of Hawaii from $53.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $64.80.

Bank of Hawaii Stock Performance

NYSE BOH opened at $72.78 on Tuesday. Bank of Hawaii has a 52-week low of $48.83 and a 52-week high of $75.19. The stock has a market cap of $2.89 billion, a PE ratio of 21.86, a P/E/G ratio of 7.30 and a beta of 1.05. The firm has a 50-day moving average of $65.15 and a 200-day moving average of $61.92. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. Bank of Hawaii had a net margin of 14.54% and a return on equity of 12.25%. The firm had revenue of $265.76 million during the quarter, compared to the consensus estimate of $160.29 million. During the same period last year, the business posted $1.17 earnings per share. On average, sell-side analysts anticipate that Bank of Hawaii will post 3.4 EPS for the current year.

Bank of Hawaii Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.80 annualized dividend and a yield of 3.85%. Bank of Hawaii’s dividend payout ratio is 84.08%.

Hedge Funds Weigh In On Bank of Hawaii

Several hedge funds have recently bought and sold shares of the company. Congress Asset Management Co. boosted its position in shares of Bank of Hawaii by 30.5% during the 3rd quarter. Congress Asset Management Co. now owns 61,134 shares of the bank’s stock worth $3,837,000 after acquiring an additional 14,286 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Bank of Hawaii by 11.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,205 shares of the bank’s stock worth $1,511,000 after purchasing an additional 2,566 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Bank of Hawaii in the 3rd quarter valued at $70,960,000. Harrington Investments INC increased its stake in shares of Bank of Hawaii by 2.3% in the 3rd quarter. Harrington Investments INC now owns 20,156 shares of the bank’s stock valued at $1,265,000 after purchasing an additional 450 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Bank of Hawaii by 5,508.3% during the 3rd quarter. UMB Bank n.a. now owns 2,692 shares of the bank’s stock worth $169,000 after buying an additional 2,644 shares in the last quarter. 82.18% of the stock is owned by institutional investors.

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.