Bank of Hawaii (NYSE:BOH) had its price target hoisted by stock analysts at Morgan Stanley from $76.00 to $88.00 in a report released on Wednesday. The firm currently has an “underweight” rating on the bank’s stock. Morgan Stanley’s price target would suggest a potential upside of 3.71% from the company’s previous close.
Several other research firms have also recently issued reports on BOH. Jefferies Group restated a “hold” rating and set a $92.00 price objective on shares of Bank of Hawaii in a research report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Piper Jaffray Companies reiterated a “hold” rating and issued a $90.50 price target on shares of Bank of Hawaii in a research note on Tuesday, October 24th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $88.00 price target on shares of Bank of Hawaii in a research note on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Bank of Hawaii presently has an average rating of “Hold” and an average price target of $89.75.
Bank of Hawaii (BOH) traded up $0.85 during trading hours on Wednesday, hitting $84.85. 167,700 shares of the stock traded hands, compared to its average volume of 192,863. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $3,568.21, a P/E ratio of 19.31, a P/E/G ratio of 2.23 and a beta of 0.97. Bank of Hawaii has a 12-month low of $74.72 and a 12-month high of $90.80.
Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, October 23rd. The bank reported $1.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.08. Bank of Hawaii had a net margin of 27.27% and a return on equity of 15.45%. The firm had revenue of $158.73 million for the quarter, compared to the consensus estimate of $163.29 million. During the same period last year, the firm posted $1.02 earnings per share. analysts expect that Bank of Hawaii will post 4.42 earnings per share for the current year.
Bank of Hawaii announced that its Board of Directors has authorized a stock repurchase program on Monday, October 23rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Large investors have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in Bank of Hawaii in the 3rd quarter valued at $749,000. Walthausen & Co. LLC raised its position in Bank of Hawaii by 12.0% in the 3rd quarter. Walthausen & Co. LLC now owns 79,922 shares of the bank’s stock valued at $6,662,000 after purchasing an additional 8,580 shares during the last quarter. California Public Employees Retirement System raised its position in Bank of Hawaii by 4.3% in the 3rd quarter. California Public Employees Retirement System now owns 132,026 shares of the bank’s stock valued at $11,006,000 after purchasing an additional 5,448 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Bank of Hawaii in the 3rd quarter valued at $665,000. Finally, Rocky Mountain Advisers LLC raised its position in Bank of Hawaii by 13,300.0% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,010 shares of the bank’s stock valued at $168,000 after purchasing an additional 1,995 shares during the last quarter. Institutional investors and hedge funds own 75.67% of the company’s stock.
About Bank of Hawaii
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.