Bank of Hawaii Corporation (BOH) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Bank of Hawaii Corporation (NYSE:BOH) from a hold rating to a sell rating in a research report released on Tuesday, June 27th.

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. “

A number of other equities research analysts have also recently commented on BOH. BidaskClub upgraded Bank of Hawaii Corporation from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. Morgan Stanley raised their price target on shares of Bank of Hawaii Corporation from $74.00 to $75.00 and gave the company an underweight rating in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Bank of Hawaii Corporation currently has an average rating of Hold and an average target price of $78.43.

Shares of Bank of Hawaii Corporation (NYSE:BOH) opened at 81.86 on Tuesday. Bank of Hawaii Corporation has a one year low of $66.38 and a one year high of $90.80. The stock has a market cap of $3.50 billion, a PE ratio of 19.18 and a beta of 0.95. The company’s 50-day moving average price is $80.16 and its 200-day moving average price is $83.40.

Bank of Hawaii Corporation (NYSE:BOH) last announced its quarterly earnings results on Monday, April 24th. The bank reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.12. The company had revenue of $165.79 million for the quarter, compared to the consensus estimate of $159.45 million. Bank of Hawaii Corporation had a return on equity of 15.61% and a net margin of 27.57%. During the same period last year, the firm earned $1.16 EPS. Equities research analysts anticipate that Bank of Hawaii Corporation will post $4.36 earnings per share for the current year.

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In other news, CEO Peter S. Ho sold 3,000 shares of Bank of Hawaii Corporation stock in a transaction on Friday, May 5th. The shares were sold at an average price of $83.28, for a total transaction of $249,840.00. Following the completion of the sale, the chief executive officer now directly owns 160,386 shares of the company’s stock, valued at approximately $13,356,946.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Peter S. Ho sold 10,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $82.42, for a total transaction of $824,200.00. Following the completion of the sale, the chief executive officer now directly owns 183,386 shares of the company’s stock, valued at $15,114,674.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,000 shares of company stock valued at $2,306,590. Insiders own 2.16% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Bank of Hawaii Corporation by 1.2% in the first quarter. Bank of Montreal Can now owns 26,897 shares of the bank’s stock valued at $2,216,000 after buying an additional 316 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Bank of Hawaii Corporation by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 6,198 shares of the bank’s stock worth $511,000 after buying an additional 166 shares in the last quarter. State Street Corp increased its position in Bank of Hawaii Corporation by 5.2% in the fourth quarter. State Street Corp now owns 1,700,306 shares of the bank’s stock worth $150,800,000 after buying an additional 83,967 shares in the last quarter. Teachers Advisors LLC increased its position in Bank of Hawaii Corporation by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 59,252 shares of the bank’s stock worth $5,255,000 after buying an additional 2,489 shares in the last quarter. Finally, Norges Bank acquired a new stake in Bank of Hawaii Corporation during the fourth quarter valued at about $33,198,000. 77.81% of the stock is currently owned by institutional investors.

Bank of Hawaii Corporation Company Profile

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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