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

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 analysts have also weighed in on BOH. BidaskClub upgraded Bank of Hawaii Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Barclays PLC restated an “equal weight” rating and issued a $83.00 target price (up from $81.00) on shares of Bank of Hawaii Corporation in a research note on Wednesday, July 12th. Jefferies Group LLC restated a “hold” rating and issued a $85.00 target price on shares of Bank of Hawaii Corporation in a research note on Friday, July 14th. Piper Jaffray Companies restated a “hold” rating and issued a $94.00 target price on shares of Bank of Hawaii Corporation in a research note on Wednesday, July 26th. Finally, Morgan Stanley restated an “underweight” rating and issued a $77.00 target price (up from $75.00) on shares of Bank of Hawaii Corporation in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Bank of Hawaii Corporation has an average rating of “Hold” and an average target price of $87.20.

Bank of Hawaii Corporation (NYSE BOH) traded down 1.02% during midday trading on Wednesday, reaching $84.18. 89,516 shares of the company traded hands. The company has a 50-day moving average price of $80.33 and a 200-day moving average price of $81.00. Bank of Hawaii Corporation has a 12-month low of $71.78 and a 12-month high of $90.80. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 19.67 and a beta of 0.99.

Bank of Hawaii Corporation (NYSE:BOH) last announced its earnings results on Monday, July 24th. The bank reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. Bank of Hawaii Corporation had a return on equity of 15.45% and a net margin of 27.28%. The company had revenue of $157.52 million during the quarter, compared to analyst estimates of $157.76 million. During the same period last year, the company posted $1.03 earnings per share. On average, analysts predict that Bank of Hawaii Corporation will post $4.43 earnings per share for the current fiscal year.

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In related news, insider Donna A. Tanoue sold 1,185 shares of Bank of Hawaii Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $76.86, for a total value of $91,079.10. Following the completion of the sale, the insider now directly owns 15,204 shares in the company, valued at $1,168,579.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Donna A. Tanoue sold 6,000 shares of Bank of Hawaii Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $76.88, for a total value of $461,280.00. Following the completion of the sale, the insider now owns 9,969 shares of the company’s stock, valued at $766,416.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,235 shares of company stock valued at $860,767. Corporate insiders own 2.16% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC increased its position in Bank of Hawaii Corporation by 9.2% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,208,500 shares of the bank’s stock worth $100,270,000 after purchasing an additional 101,583 shares during the period. Envestnet Asset Management Inc. increased its position in Bank of Hawaii Corporation by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 6,198 shares of the bank’s stock worth $511,000 after purchasing an additional 166 shares during the period. Vanguard Group Inc. increased its position in Bank of Hawaii Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 3,595,900 shares of the bank’s stock worth $296,158,000 after purchasing an additional 144,229 shares during the period. BlackRock Inc. increased its position in Bank of Hawaii Corporation by 11,412.9% in the first quarter. BlackRock Inc. now owns 5,822,179 shares of the bank’s stock worth $479,514,000 after purchasing an additional 5,771,608 shares during the period. Finally, Geode Capital Management LLC increased its position in Bank of Hawaii Corporation by 4.0% in the first quarter. Geode Capital Management LLC now owns 334,766 shares of the bank’s stock worth $27,571,000 after purchasing an additional 12,878 shares during the period. Hedge funds and other institutional investors own 75.61% of the company’s stock.

About Bank of Hawaii Corporation

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 products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.

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