Bank of Hawaii (NYSE:BOH) Raised to “Outperform” at Keefe, Bruyette & Woods

Bank of Hawaii (NYSE:BOH) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $91.00 price objective on the bank’s stock, up from their prior price objective of $75.00. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 22.58% from the company’s previous close.

A number of other research firms have also recently issued reports on BOH. Barclays raised their target price on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “hold (c)” rating on shares of Bank of Hawaii in a research report on Monday, December 29th. Stephens reaffirmed an “overweight” rating on shares of Bank of Hawaii in a research report on Tuesday. Wall Street Zen lowered Bank of Hawaii from a “hold” rating to a “sell” rating in a research note on Sunday, January 4th. Finally, DA Davidson restated a “neutral” rating and issued a $70.00 price target on shares of Bank of Hawaii in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $81.80.

Bank of Hawaii Stock Performance

Shares of NYSE BOH opened at $74.24 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The company 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 has a 12 month low of $57.44 and a 12 month high of $78.25. The stock has a 50 day moving average of $69.38 and a 200-day moving average of $66.80.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Monday, January 26th. The bank reported $1.39 earnings per share (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 business had revenue of $189.65 million during the quarter, compared to the consensus estimate of $184.83 million. During the same quarter last year, the firm posted $0.85 EPS. As a group, equities research analysts predict that Bank of Hawaii will post 3.97 EPS for the current year.

Insider Activity

In related news, CEO Peter S. Ho sold 15,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $67.87, for a total value of $1,018,050.00. Following the transaction, the chief executive officer owned 156,774 shares in the company, valued at approximately $10,640,251.38. This trade represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.07% of the company’s stock.

Hedge Funds Weigh In On Bank of Hawaii

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

About Bank of Hawaii

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.