Bank of Hawaii (NYSE:BOH) Reaches New 12-Month High – Still a Buy?

Bank of Hawaii Co. (NYSE:BOH) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $82.36 and last traded at $81.96, with a volume of 240974 shares. The stock had previously closed at $80.28.

Wall Street Analysts Forecast Growth

BOH has been the subject of several analyst reports. Barclays increased their price objective on Bank of Hawaii from $50.00 to $56.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. DA Davidson raised their price target on Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Piper Sandler upped their price objective on shares of Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $64.80.

Bank of Hawaii Price Performance

The stock has a fifty day moving average of $69.18 and a 200 day moving average of $64.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 5.27 and a beta of 1.03.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.93 EPS for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $265.76 million during the quarter, compared to analysts’ expectations of $160.29 million. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. During the same period in the previous year, the business posted $1.17 EPS. On average, analysts expect that Bank of Hawaii Co. will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, November 29th. Bank of Hawaii’s dividend payout ratio is currently 84.08%.

Insider Buying and Selling at Bank of Hawaii

In related news, insider Matthew Emerson sold 1,355 shares of the 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 sale, the insider now directly owns 13,717 shares of the company’s stock, valued at approximately $991,327.59. This represents a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.47% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BOH. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bank of Hawaii in the second quarter valued at approximately $106,000. Point72 DIFC Ltd acquired a new stake in Bank of Hawaii in the 2nd quarter valued at $119,000. UMB Bank n.a. increased its holdings in Bank of Hawaii by 5,508.3% in the 3rd quarter. UMB Bank n.a. now owns 2,692 shares of the bank’s stock worth $169,000 after acquiring an additional 2,644 shares in the last quarter. Rothschild Investment LLC acquired a new position in Bank of Hawaii during the second quarter worth $172,000. Finally, Bridges Investment Management Inc. purchased a new position in Bank of Hawaii during the second quarter valued at $205,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

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.