Bank of Hawaii (NYSE:BOH) Hits New 52-Week High – What’s Next?

Bank of Hawaii Corporation (NYSE:BOH)’s share price reached a new 52-week high on Wednesday . The company traded as high as $83.83 and last traded at $83.8630, with a volume of 114977 shares traded. The stock had previously closed at $82.08.

Wall Street Analysts Forecast Growth

BOH has been the topic of several analyst reports. Benchmark assumed coverage on Bank of Hawaii in a research note on Wednesday, July 8th. They issued a “hold” rating on the stock. Wall Street Zen lowered shares of Bank of Hawaii from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. DA Davidson boosted their price objective on shares of Bank of Hawaii from $77.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Barclays raised their target price on shares of Bank of Hawaii from $86.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Finally, Stephens increased their price target on shares of Bank of Hawaii from $82.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.80.

Bank of Hawaii Price Performance

The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 0.87 and a beta of 0.70. The company’s 50 day moving average is $79.07 and its 200 day moving average is $76.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.69 and a quick ratio of 0.69.

Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, April 20th. The bank reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). Bank of Hawaii had a return on equity of 14.97% and a net margin of 20.46%.The company had revenue of $192.32 million for the quarter, compared to analyst estimates of $193.53 million. During the same quarter in the previous year, the company posted $0.97 earnings per share. Research analysts forecast that Bank of Hawaii Corporation will post 5.89 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, May 29th. Bank of Hawaii’s payout ratio is presently 56.57%.

Institutional Investors Weigh In On Bank of Hawaii

Several institutional investors and hedge funds have recently made changes to their positions in BOH. Marble Harbor Investment Counsel LLC grew its position in shares of Bank of Hawaii by 14.3% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 112,199 shares of the bank’s stock worth $7,671,000 after acquiring an additional 14,075 shares during the last quarter. Numerai GP LLC bought a new stake in Bank of Hawaii in the 3rd quarter valued at about $5,893,000. Tudor Investment Corp ET AL boosted its stake in Bank of Hawaii by 33.6% during the 3rd quarter. Tudor Investment Corp ET AL now owns 105,845 shares of the bank’s stock valued at $6,948,000 after purchasing an additional 26,634 shares during the period. Vanguard Group Inc. boosted its stake in Bank of Hawaii by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 4,565,434 shares of the bank’s stock valued at $312,139,000 after purchasing an additional 26,821 shares during the period. Finally, SG Americas Securities LLC bought a new position in Bank of Hawaii in the 4th quarter worth about $2,024,000. 82.18% of the stock is currently owned by hedge funds and other 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.