Piper Sandler Forecasts Strong Price Appreciation for Bank of Hawaii (NYSE:BOH) Stock

Bank of Hawaii (NYSE:BOH) had its price target upped by research analysts at Piper Sandler from $66.00 to $68.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Piper Sandler’s price objective indicates a potential downside of 8.37% from the company’s previous close.

A number of other brokerages have also weighed in on BOH. Keefe, Bruyette & Woods upped their target price on shares of Bank of Hawaii from $74.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson upped their target price on shares of Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Stephens started coverage on shares of Bank of Hawaii in a research note on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 target price for the company. Finally, Barclays boosted 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 report on Thursday, December 5th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.17.

Bank of Hawaii Price Performance

Shares of BOH stock opened at $74.21 on Tuesday. Bank of Hawaii has a 12-month low of $54.50 and a 12-month high of $82.70. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 22.29 and a beta of 1.05. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average of $73.33 and a 200-day moving average of $69.26.

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

Insiders Place Their Bets

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total transaction of $97,925.85. Following the sale, the insider now directly owns 13,717 shares of the company’s stock, valued at $991,327.59. The trade was a 8.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On Bank of Hawaii

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Bank of Hawaii in the 2nd quarter valued at about $106,000. Point72 DIFC Ltd bought a new stake in shares of Bank of Hawaii in the 2nd quarter valued at about $119,000. KBC Group NV raised its holdings in shares of Bank of Hawaii by 70.9% in the 4th quarter. KBC Group NV now owns 1,957 shares of the bank’s stock valued at $139,000 after purchasing an additional 812 shares during the period. UMB Bank n.a. raised its holdings in shares of Bank of Hawaii by 5,508.3% in the 3rd quarter. UMB Bank n.a. now owns 2,692 shares of the bank’s stock valued at $169,000 after purchasing an additional 2,644 shares during the period. Finally, Trust Point Inc. bought a new stake in shares of Bank of Hawaii in the 4th quarter valued at about $204,000. 82.18% of the stock is owned by institutional investors.

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.