Bank of Hawaii (BOH) Rating Lowered to Hold at Zacks Investment Research

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

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 also recently issued research reports about the company. Compass Point upgraded Bank of Hawaii from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Barclays increased their price target on Bank of Hawaii from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Piper Jaffray Companies reiterated a “hold” rating and set a $90.50 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $88.00 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Finally, Morgan Stanley lowered their price target on Bank of Hawaii from $88.00 to $86.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $91.92.

Shares of Bank of Hawaii (NYSE BOH) traded up $0.30 on Tuesday, hitting $82.39. The stock had a trading volume of 182,414 shares, compared to its average volume of 259,520. Bank of Hawaii has a 1 year low of $74.72 and a 1 year high of $89.09. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3,443.42, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.08). The business had revenue of $160.63 million for the quarter, compared to analysts’ expectations of $162.90 million. Bank of Hawaii had a return on equity of 15.48% and a net margin of 26.80%. During the same quarter in the prior year, the company posted $1.02 EPS. equities research analysts expect that Bank of Hawaii will post 5.19 EPS for the current fiscal year.

Bank of Hawaii declared that its board has authorized a stock repurchase plan on Monday, October 23rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new stake in shares of Bank of Hawaii in the fourth quarter valued at approximately $51,080,000. Koch Industries Inc. acquired a new stake in shares of Bank of Hawaii in the second quarter valued at approximately $364,000. Sei Investments Co. increased its holdings in shares of Bank of Hawaii by 2,492.0% in the third quarter. Sei Investments Co. now owns 295,328 shares of the bank’s stock valued at $38,856,000 after purchasing an additional 283,934 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Bank of Hawaii by 28.9% in the third quarter. American Century Companies Inc. now owns 1,025,878 shares of the bank’s stock valued at $85,517,000 after purchasing an additional 229,779 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Bank of Hawaii in the second quarter valued at approximately $17,903,000. Institutional investors and hedge funds own 77.21% of the company’s stock.

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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.

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