Bank of Hawaii (NYSE:BOH – Get Free Report) was downgraded by investment analysts at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Thursday, Marketbeat.com reports. They currently have a $85.00 target price on the bank’s stock. Stephens’ price target points to a potential upside of 6.71% from the company’s current price.
Other equities analysts have also recently issued reports about the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of Hawaii in a research note on Friday, July 24th. Barclays dropped their price target on shares of Bank of Hawaii from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 28th. Benchmark reissued a “hold” rating on shares of Bank of Hawaii in a report on Tuesday, July 28th. Keefe, Bruyette & Woods reduced their price objective on shares of Bank of Hawaii from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday. Finally, DA Davidson lifted their price objective on Bank of Hawaii from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $85.00.
Read Our Latest Stock Report on Bank of Hawaii
Bank of Hawaii Stock Down 1.5%
Bank of Hawaii (NYSE:BOH – Get Free Report) last released its earnings results on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.01. Bank of Hawaii had a return on equity of 15.72% and a net margin of 21.84%.The business had revenue of $196.90 million for the quarter, compared to analyst estimates of $199.51 million. During the same quarter in the previous year, the company posted $1.06 earnings per share. As a group, research analysts expect that Bank of Hawaii will post 5.88 earnings per share for the current year.
Insider Activity
In other news, insider Marco A. Abbruzzese sold 2,441 shares of Bank of Hawaii stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $81.59, for a total transaction of $199,161.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.97% of the company’s stock.
Hedge Funds Weigh In On Bank of Hawaii
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Handelsbanken Fonder AB boosted its position in Bank of Hawaii by 26.5% during the second quarter. Handelsbanken Fonder AB now owns 18,137 shares of the bank’s stock worth $1,478,000 after purchasing an additional 3,800 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Bank of Hawaii by 34.8% in the second quarter. GAMMA Investing LLC now owns 3,667 shares of the bank’s stock valued at $299,000 after buying an additional 946 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Bank of Hawaii by 10.9% during the 2nd quarter. Central Pacific Bank Trust Division now owns 3,550 shares of the bank’s stock worth $289,000 after buying an additional 350 shares during the last quarter. CoreFirst Bank & Trust raised its stake in shares of Bank of Hawaii by 14.6% during the 1st quarter. CoreFirst Bank & Trust now owns 1,410 shares of the bank’s stock worth $105,000 after buying an additional 180 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Bank of Hawaii in the 1st quarter worth about $529,000. 82.18% of the stock is owned by institutional investors and hedge funds.
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.
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