Bank of Hawaii Corp. (BOH) Raised to “Buy” at Zacks Investment Research
Bank of Hawaii Corp. (NYSE:BOH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $83.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 11.54% from the company’s previous close.
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. “
Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada raised their price target on shares of Bank of Hawaii Corp. from $68.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 26th. Compass Point began coverage on shares of Bank of Hawaii Corp. in a research note on Thursday, August 11th. They set a “neutral” rating and a $69.00 price target for the company. RBC Capital Markets reaffirmed a “sector perform” rating and set a $72.00 price target (up from $68.00) on shares of Bank of Hawaii Corp. in a research note on Tuesday, July 26th. Barclays PLC reissued an “equal weight” rating and issued a $66.00 price objective on shares of Bank of Hawaii Corp. in a report on Tuesday, July 26th. Finally, 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 report on Tuesday, July 26th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $70.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/bank-of-hawaii-corp-boh-raised-to-buy-at-zacks-investment-research.html
Shares of Bank of Hawaii Corp. (NYSE:BOH) traded up 0.79% during midday trading on Monday, reaching $74.41. 167,051 shares of the company’s stock traded hands. The stock has a 50 day moving average of $71.70 and a 200-day moving average of $69.53. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 18.75 and a beta of 0.99. Bank of Hawaii Corp. has a 52-week low of $54.55 and a 52-week high of $74.69.
Bank of Hawaii Corp. (NYSE:BOH) last issued its quarterly earnings results on Monday, July 25th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.10. The company earned $150.10 million during the quarter, compared to analysts’ expectations of $149.13 million. Bank of Hawaii Corp. had a net margin of 26.96% and a return on equity of 15.21%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. On average, equities research analysts expect that Bank of Hawaii Corp. will post $4.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.58%. The ex-dividend date was Monday, August 29th. Bank of Hawaii Corp.’s dividend payout ratio is 48.36%.
Large investors have recently made changes to their positions in the stock. Pacad Investment Ltd. acquired a new stake in shares of Bank of Hawaii Corp. during the first quarter valued at about $294,000. TIAA CREF Investment Management LLC boosted its position in Bank of Hawaii Corp. by 15.5% in the first quarter. TIAA CREF Investment Management LLC now owns 111,789 shares of the company’s stock valued at $7,633,000 after buying an additional 14,976 shares during the last quarter. Teachers Advisors Inc. boosted its position in Bank of Hawaii Corp. by 0.3% in the first quarter. Teachers Advisors Inc. now owns 91,385 shares of the company’s stock valued at $6,240,000 after buying an additional 237 shares during the last quarter. BlackRock Inc. boosted its position in Bank of Hawaii Corp. by 5.2% in the first quarter. BlackRock Inc. now owns 26,726 shares of the company’s stock valued at $1,824,000 after buying an additional 1,311 shares during the last quarter. Finally, BlackRock Group LTD boosted its position in Bank of Hawaii Corp. by 14.2% in the first quarter. BlackRock Group LTD now owns 73,475 shares of the company’s stock valued at $5,016,000 after buying an additional 9,110 shares during the last quarter. 76.08% of the stock is owned by institutional investors and hedge funds.
Bank of Hawaii Corp. Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bank of Hawaii Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Hawaii Corp. and related companies with MarketBeat.com's FREE daily email newsletter.