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

Bank of Hawaii (NYSE:BOH) had its target price lifted by investment analysts at Barclays from $56.00 to $66.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the bank’s stock. Barclays‘s price target points to a potential downside of 13.64% from the company’s current price.

BOH has been the topic of several other reports. Stephens started coverage on shares of Bank of Hawaii in a research note on Wednesday, November 27th. They set an “overweight” rating and a $90.00 target price on the stock. Piper Sandler increased their price target on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. DA Davidson upped their target price on Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their target price on Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.83.

Bank of Hawaii Stock Down 0.2 %

Bank of Hawaii stock opened at $76.42 on Thursday. The business’s 50-day moving average price is $72.15 and its 200 day moving average price is $65.52. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 5.12 and a beta of 1.03. Bank of Hawaii has a 52 week low of $54.50 and a 52 week high of $82.70.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. The firm had revenue of $265.76 million during the quarter, compared to analyst estimates of $160.29 million. During the same period in the previous year, the firm earned $1.17 EPS. As a group, sell-side analysts anticipate that Bank of Hawaii will post 3.52 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Matthew Emerson sold 1,355 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total transaction of $97,925.85. Following the completion of the sale, the insider now owns 13,717 shares of the company’s stock, valued at $991,327.59. This represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bank of Hawaii

Several hedge funds and other institutional investors have recently modified their holdings of BOH. Victory Capital Management Inc. grew its stake in Bank of Hawaii by 13.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank’s stock valued at $93,533,000 after acquiring an additional 189,878 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Bank of Hawaii in the third quarter valued at approximately $70,960,000. State Street Corp increased its holdings in shares of Bank of Hawaii by 5.0% in the third quarter. State Street Corp now owns 2,244,649 shares of the bank’s stock valued at $140,897,000 after purchasing an additional 106,717 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Bank of Hawaii by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank’s stock worth $45,167,000 after buying an additional 98,465 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Bank of Hawaii by 8.7% during the second quarter. American Century Companies Inc. now owns 675,615 shares of the bank’s stock worth $38,652,000 after buying an additional 54,078 shares during the last quarter. 82.18% of the stock is owned by hedge funds and other institutional investors.

About Bank of Hawaii

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, overdraft lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, as well as high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.