Barclays Forecasts Strong Price Appreciation for Bank of Hawaii (NYSE:BOH) Stock

Bank of Hawaii (NYSE:BOH) had its price objective raised by stock analysts at Barclays from $75.00 to $83.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays‘s price target would indicate a potential upside of 11.80% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bank of Hawaii in a research note on Monday, December 29th. DA Davidson raised their target price on shares of Bank of Hawaii from $73.00 to $81.00 and gave the stock a “neutral” rating in a research report on Tuesday. Keefe, Bruyette & Woods upgraded Bank of Hawaii from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $75.00 to $91.00 in a report on Tuesday. Stephens restated an “overweight” rating on shares of Bank of Hawaii in a report on Tuesday. Finally, Wall Street Zen lowered Bank of Hawaii from a “hold” rating to a “sell” rating in a research report on Sunday, January 4th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $81.80.

Bank of Hawaii Price Performance

Shares of BOH stock opened at $74.24 on Tuesday. The stock has a 50 day moving average price of $69.38 and a 200 day moving average price of $66.80. Bank of Hawaii has a 52-week low of $57.44 and a 52-week high of $78.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $2.95 billion, a P/E ratio of 16.07, a P/E/G ratio of 0.66 and a beta of 0.75.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, January 26th. The bank reported $1.39 EPS for the quarter, beating the consensus estimate of $1.25 by $0.14. Bank of Hawaii had a return on equity of 14.42% and a net margin of 19.30%.The company had revenue of $189.65 million for the quarter, compared to the consensus estimate of $184.83 million. During the same quarter in the prior year, the company posted $0.85 EPS. As a group, sell-side analysts predict that Bank of Hawaii will post 3.97 earnings per share for the current year.

Insiders Place Their Bets

In other Bank of Hawaii news, CEO Peter S. Ho sold 15,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.87, for a total transaction of $1,018,050.00. Following the completion of the sale, the chief executive officer owned 156,774 shares in the company, valued at $10,640,251.38. This represents a 8.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. DAVENPORT & Co LLC boosted its position in shares of Bank of Hawaii by 11.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 23,832 shares of the bank’s stock worth $1,609,000 after purchasing an additional 2,477 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Bank of Hawaii in the second quarter valued at about $3,222,000. Capital Fund Management S.A. acquired a new stake in Bank of Hawaii in the second quarter worth about $2,238,000. Norges Bank purchased a new stake in shares of Bank of Hawaii during the second quarter worth about $30,569,000. Finally, KLP Kapitalforvaltning AS increased its holdings in shares of Bank of Hawaii by 10.5% during the second quarter. KLP Kapitalforvaltning AS now owns 8,400 shares of the bank’s stock valued at $567,000 after acquiring an additional 800 shares in the last quarter. 82.18% of the stock is owned by institutional investors.

Bank of Hawaii Company Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.