Bank of Hawaii Corporation (NYSE:BOH) – Investment analysts at DA Davidson dropped their FY2017 earnings per share estimates for shares of Bank of Hawaii Corporation in a research note issued to investors on Tuesday, Zacks Investment Research reports. DA Davidson analyst J. Rulis now forecasts that the bank will post earnings of $4.45 per share for the year, down from their previous forecast of $4.50. DA Davidson also issued estimates for Bank of Hawaii Corporation’s Q4 2017 earnings at $1.12 EPS.
Several other equities analysts also recently issued reports on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $85.00 price objective on shares of Bank of Hawaii Corporation in a research report on Friday, July 14th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $88.00 target price on shares of Bank of Hawaii Corporation in a research note on Tuesday, October 24th. Zacks Investment Research lowered Bank of Hawaii Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Piper Jaffray Companies reissued a “hold” rating and set a $94.00 price target on shares of Bank of Hawaii Corporation in a research report on Wednesday, July 26th. Finally, Morgan Stanley restated an “underweight” rating and issued a $77.00 price target (up from $75.00) on shares of Bank of Hawaii Corporation in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $87.92.
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Shares of Bank of Hawaii Corporation (NYSE:BOH) traded up $0.20 during midday trading on Thursday, hitting $78.86. The stock had a trading volume of 145,200 shares, compared to its average volume of 195,268. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.66 and a current ratio of 0.66. Bank of Hawaii Corporation has a fifty-two week low of $74.72 and a fifty-two week high of $90.80. The firm has a market cap of $3,341.37, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 2.09 and a beta of 0.96.
Bank of Hawaii Corporation (NYSE:BOH) last issued its earnings results on Monday, October 23rd. The bank reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The company had revenue of $158.73 million for the quarter, compared to analyst estimates of $163.29 million. Bank of Hawaii Corporation had a return on equity of 15.45% and a net margin of 27.27%. During the same period in the prior year, the firm posted $1.02 EPS.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trexquant Investment LP bought a new stake in Bank of Hawaii Corporation during the third quarter worth $240,000. JPMorgan Chase & Co. lifted its stake in Bank of Hawaii Corporation by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 375,605 shares of the bank’s stock worth $31,239,000 after purchasing an additional 4,000 shares during the last quarter. Legal & General Group Plc lifted its stake in Bank of Hawaii Corporation by 9.6% during the third quarter. Legal & General Group Plc now owns 52,082 shares of the bank’s stock worth $4,342,000 after purchasing an additional 4,570 shares during the last quarter. TD Asset Management Inc. lifted its stake in Bank of Hawaii Corporation by 33.5% during the third quarter. TD Asset Management Inc. now owns 67,401 shares of the bank’s stock worth $5,619,000 after purchasing an additional 16,930 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Bank of Hawaii Corporation by 14.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 7,740 shares of the bank’s stock worth $645,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 76.22% of the company’s stock.
In related news, insider Donna A. Tanoue sold 1,185 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $76.86, for a total transaction of $91,079.10. Following the sale, the insider now owns 15,204 shares of the company’s stock, valued at $1,168,579.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donna A. Tanoue sold 6,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $76.88, for a total value of $461,280.00. Following the sale, the insider now owns 9,969 shares of the company’s stock, valued at $766,416.72. The disclosure for this sale can be found here. Insiders sold 11,235 shares of company stock worth $860,767 in the last ninety days. 2.16% of the stock is owned by company insiders.
Bank of Hawaii Corporation declared that its Board of Directors has approved a share buyback plan on Monday, October 23rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, November 29th. Bank of Hawaii Corporation’s dividend payout ratio (DPR) is presently 47.82%.
About Bank of Hawaii Corporation
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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