StockNews.com Initiates Coverage on Bank of Hawaii (NYSE:BOH)

Posted by Wayne Rhoads on Mar 19th, 2023

StockNews.com initiated coverage on shares of Bank of Hawaii (NYSE:BOH – Get Rating) in a research note published on Thursday. The brokerage issued a sell rating on the bank’s stock.

Separately, Compass Point lowered shares of Bank of Hawaii from a buy rating to a neutral rating and set a $71.00 target price for the company. in a research note on Tuesday, January 24th.

Bank of Hawaii Trading Down 3.0 %

Shares of BOH opened at $51.08 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.03 billion, a P/E ratio of 9.32, a P/E/G ratio of 1.32 and a beta of 1.01. The firm has a 50-day moving average price of $73.66 and a 200 day moving average price of $76.32. Bank of Hawaii has a 12-month low of $34.71 and a 12-month high of $87.27.

Bank of Hawaii (NYSE:BOH – Get Rating) last announced its earnings results on Monday, January 23rd. The bank reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.08. The company had revenue of $213.49 million during the quarter, compared to analyst estimates of $181.09 million. Bank of Hawaii had a net margin of 29.91% and a return on equity of 19.31%. During the same quarter last year, the firm posted $1.55 earnings per share. Sell-side analysts forecast that Bank of Hawaii will post 4.97 EPS for the current year.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 14th. Stockholders of record on Tuesday, February 28th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $2.80 annualized dividend and a dividend yield of 5.48%. Bank of Hawaii’s dividend payout ratio is presently 51.09%.

Insider Transactions at Bank of Hawaii

In other news, CEO Peter S. Ho sold 7,000 shares of the stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $76.40, for a total transaction of $534,800.00. Following the sale, the chief executive officer now owns 226,681 shares of the company’s stock, valued at $17,318,428.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.06% of the company’s stock.

Institutional Trading of Bank of Hawaii

Several hedge funds have recently made changes to their positions in BOH. JPMorgan Chase & Co. lifted its position in shares of Bank of Hawaii by 5.8% during the first quarter. JPMorgan Chase & Co. now owns 70,245 shares of the bank’s stock worth $5,895,000 after purchasing an additional 3,843 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Bank of Hawaii by 15.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,739 shares of the bank’s stock valued at $1,322,000 after acquiring an additional 2,093 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Bank of Hawaii by 43.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,531 shares of the bank’s stock valued at $1,219,000 after acquiring an additional 4,423 shares in the last quarter. Private Advisor Group LLC raised its holdings in Bank of Hawaii by 6.1% in the first quarter. Private Advisor Group LLC now owns 8,757 shares of the bank’s stock valued at $735,000 after acquiring an additional 501 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Bank of Hawaii by 32.7% in the first quarter. MetLife Investment Management LLC now owns 26,023 shares of the bank’s stock valued at $2,184,000 after acquiring an additional 6,407 shares in the last quarter. Institutional investors and hedge funds own 74.29% of the company’s stock.

About Bank of Hawaii

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Bank of Hawaii Corp. operates as a bank holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other. The Retail Banking segment offers financial products and services to consumers and small businesses.