Bank of Hawaii (NYSE:BOH) Downgraded by Piper Sandler

Piper Sandler cut shares of Bank of Hawaii (NYSE:BOH) from a neutral rating to an underweight rating in a research note published on Monday, MarketBeat Ratings reports. They currently have $61.00 price target on the bank’s stock, down from their prior price target of $70.00.

A number of other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Bank of Hawaii from $58.00 to $60.00 and gave the stock an underperform rating in a report on Tuesday, July 23rd. DA Davidson upped their price objective on shares of Bank of Hawaii from $63.00 to $70.00 and gave the stock a neutral rating in a report on Monday, July 29th. Barclays lowered their price objective on shares of Bank of Hawaii from $51.00 to $50.00 and set an underweight rating on the stock in a report on Tuesday, April 23rd. StockNews.com upgraded shares of Bank of Hawaii to a sell rating in a report on Thursday, May 30th. Finally, Jefferies Financial Group upped their price objective on shares of Bank of Hawaii from $53.00 to $54.00 and gave the stock a hold rating in a report on Wednesday, July 3rd. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Reduce and an average target price of $59.00.

Bank of Hawaii Price Performance

Bank of Hawaii stock opened at $63.44 on Monday. Bank of Hawaii has a one year low of $45.56 and a one year high of $75.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s 50 day moving average is $61.33 and its 200 day moving average is $60.41. The firm has a market cap of $2.52 billion, a P/E ratio of 16.35 and a beta of 1.06.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $255.62 million during the quarter, compared to the consensus estimate of $157.12 million. Bank of Hawaii had a net margin of 14.54% and a return on equity of 12.25%. During the same period last year, the firm posted $1.12 earnings per share. As a group, research analysts expect that Bank of Hawaii will post 3.37 EPS for the current year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.70 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.80 annualized dividend and a dividend yield of 4.41%. Bank of Hawaii’s dividend payout ratio is currently 72.16%.

Insider Activity

In other news, insider Taryn L. Salmon sold 2,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $67.80, for a total value of $160,279.20. Following the completion of the sale, the insider now owns 10,785 shares in the company, valued at $731,223. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bank of Hawaii

Several institutional investors have recently added to or reduced their stakes in BOH. TFO Wealth Partners LLC boosted its position in Bank of Hawaii by 9,660.0% during the fourth quarter. TFO Wealth Partners LLC now owns 488 shares of the bank’s stock worth $362,000 after purchasing an additional 483 shares during the period. GAMMA Investing LLC bought a new position in Bank of Hawaii during the fourth quarter worth about $41,000. Quest Partners LLC bought a new position in Bank of Hawaii during the fourth quarter worth about $41,000. Strs Ohio bought a new position in Bank of Hawaii during the fourth quarter worth about $50,000. Finally, Point72 DIFC Ltd bought a new position in Bank of Hawaii during the second quarter worth about $119,000. 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.