Bank of Hawaii Co. (NYSE:BOH) – Investment analysts at Jefferies Group lifted their FY2018 earnings per share (EPS) estimates for shares of Bank of Hawaii in a note issued to investors on Monday, according to Zacks Investment Research. Jefferies Group analyst C. Haire now expects that the bank will post earnings of $5.35 per share for the year, up from their previous forecast of $4.60. Jefferies Group has a “Hold” rating and a $92.00 price target on the stock. Jefferies Group also issued estimates for Bank of Hawaii’s FY2019 earnings at $5.70 EPS.
Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, January 22nd. The bank reported $1.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.08). Bank of Hawaii had a return on equity of 15.48% and a net margin of 26.80%. The business had revenue of $160.63 million for the quarter, compared to the consensus estimate of $162.90 million. During the same period in the previous year, the firm earned $1.02 earnings per share.
BOH has been the topic of a number of other reports. Piper Jaffray Companies reissued a “hold” rating and set a $92.50 target price on shares of Bank of Hawaii in a report on Tuesday, January 9th. Zacks Investment Research downgraded shares of Bank of Hawaii from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $88.00 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Morgan Stanley dropped their price target on shares of Bank of Hawaii from $88.00 to $86.00 and set an “underweight” rating on the stock in a research report on Friday, January 26th. Finally, Barclays boosted their price target on shares of Bank of Hawaii from $85.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Bank of Hawaii presently has an average rating of “Hold” and a consensus target price of $91.92.
Shares of Bank of Hawaii (NYSE BOH) opened at $84.42 on Wednesday. Bank of Hawaii has a 1-year low of $74.72 and a 1-year high of $89.09. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3,590.00, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.97.
Several hedge funds and other institutional investors have recently modified their holdings of BOH. Cubist Systematic Strategies LLC acquired a new position in shares of Bank of Hawaii during the 3rd quarter valued at $665,000. Bank of Hawaii lifted its position in shares of Bank of Hawaii by 8.7% during the 2nd quarter. Bank of Hawaii now owns 36,677 shares of the bank’s stock valued at $3,043,000 after acquiring an additional 2,924 shares during the period. First Trust Advisors LP lifted its position in shares of Bank of Hawaii by 12.3% during the 3rd quarter. First Trust Advisors LP now owns 286,893 shares of the bank’s stock valued at $23,915,000 after acquiring an additional 31,342 shares during the period. First Quadrant L P CA lifted its position in shares of Bank of Hawaii by 55.9% during the 3rd quarter. First Quadrant L P CA now owns 76,984 shares of the bank’s stock valued at $6,417,000 after acquiring an additional 27,595 shares during the period. Finally, Epoch Investment Partners Inc. lifted its position in shares of Bank of Hawaii by 16.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 602,834 shares of the bank’s stock valued at $50,017,000 after acquiring an additional 86,229 shares during the period. Hedge funds and other institutional investors own 75.78% of the company’s stock.
Bank of Hawaii declared that its board has initiated a share buyback plan on Monday, October 23rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 28th will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.46%. Bank of Hawaii’s dividend payout ratio (DPR) is currently 48.04%.
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About Bank of Hawaii
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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