Bank of Hawaii Corp. (BOH) Rating Lowered to Hold at Zacks Investment Research

Bank of Hawaii Corp. (NYSE:BOH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa and the West Pacific. The Company’s principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii. “

A number of other research analysts have also commented on BOH. Compass Point assumed coverage on Bank of Hawaii Corp. in a research report on Thursday, August 11th. They issued a “neutral” rating and a $69.00 price objective on the stock. RBC Capital Markets reiterated a “sector perform” rating and issued a $72.00 price objective (up from $68.00) on shares of Bank of Hawaii Corp. in a research report on Tuesday, July 26th. DA Davidson increased their price objective on Bank of Hawaii Corp. from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, July 26th. Barclays PLC increased their price objective on Bank of Hawaii Corp. from $71.00 to $73.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 25th. Finally, Royal Bank Of Canada increased their price objective on Bank of Hawaii Corp. from $68.00 to $72.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 26th. Eight analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $72.13.

Analyst Recommendations for Bank of Hawaii Corp. (NYSE:BOH)

Bank of Hawaii Corp. (NYSE:BOH) opened at 85.01 on Thursday. The company’s 50-day moving average price is $74.35 and its 200 day moving average price is $70.83. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 20.24 and a beta of 0.87. Bank of Hawaii Corp. has a 52-week low of $54.55 and a 52-week high of $85.32.

Bank of Hawaii Corp. (NYSE:BOH) last announced its quarterly earnings data on Monday, October 24th. The company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.03. Bank of Hawaii Corp. had a return on equity of 15.80% and a net margin of 27.91%. During the same period last year, the business posted $0.79 EPS. Equities analysts predict that Bank of Hawaii Corp. will post $4.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.48 per share. The ex-dividend date is Monday, November 28th. This represents a $1.92 annualized dividend and a yield of 2.26%. Bank of Hawaii Corp.’s dividend payout ratio is presently 45.71%.

In other Bank of Hawaii Corp. news, Director Barbara J. Tanabe sold 3,550 shares of Bank of Hawaii Corp. stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $73.88, for a total transaction of $262,274.00. Following the transaction, the director now directly owns 7,974 shares in the company, valued at $589,119.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.52% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of BOH. State Street Corp raised its position in Bank of Hawaii Corp. by 3.5% in the first quarter. State Street Corp now owns 1,688,551 shares of the company’s stock valued at $115,292,000 after buying an additional 56,915 shares in the last quarter. UBS Group AG raised its position in Bank of Hawaii Corp. by 36.7% in the first quarter. UBS Group AG now owns 58,672 shares of the company’s stock valued at $4,006,000 after buying an additional 15,754 shares in the last quarter. Geode Capital Management LLC raised its position in Bank of Hawaii Corp. by 4.8% in the first quarter. Geode Capital Management LLC now owns 277,231 shares of the company’s stock valued at $18,929,000 after buying an additional 12,600 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Bank of Hawaii Corp. by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 15,182 shares of the company’s stock valued at $1,037,000 after buying an additional 103 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in Bank of Hawaii Corp. by 2.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 39,082 shares of the company’s stock valued at $2,669,000 after buying an additional 946 shares in the last quarter. Hedge funds and other institutional investors own 76.14% of the company’s stock.

About Bank of Hawaii Corp.

Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial services and products primarily to customers in Hawaii, Guam and other Pacific Islands. The Company operates through four business segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.

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