Is Bank of Hawaii Corporation (NYSE: BOH) Proving The Doubters Wrong?

The Vanguard Group, Inc. has recently announced that it has increased stake in Bank of Hawaii Corporation (NYSE:BOH) by 1.72%. After grabbing 4.0 million shares, the institutional investor is now in possession of 67602.0 shares of the Financial Company. The new investment brought the stake of investor firm to 9.89% having worth around $299.1 million. Moreover, BlackRock Fund Advisors increased its share by 73836.0 to have a control over 3.43 million shares. And Victory Capital Management, Inc. raised its holdings to 0.17 million shares by acquiring 2.32 million shares or 5.74% of the stake.

Bank of Hawaii Corporation (BOH) concluded trading on 03/15/23 at a closing price of $47.60, with 2.31 million shares of worth about $110.08 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -39.18% during that period and on Wednesday the price saw a loss of about -6.83%. Currently the company’s common shares owned by public are about 39.39M shares, out of which, 39.24M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the BOH stock and their offered price forecasts bring an average price target of $73.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $83.00 and could fall to a lowest price of $66.00. The stock’s current price level is 35.24% above of average price target set by the analysts, while a rise to estimated low would result in gain of 27.88% for the stock. However, touching the estimated high of $83.00 would mean a gain of 42.65% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 22 times over the past 12 months. They bought 11,375 shares in 13 of the transactions. In 9 selling transactions, insiders dumped 19,950 shares.

Neuberger Berman Genesis Fund, iShares Core S&P Mid Cap ETF, and Victory Sycamore Small Company Op are the top 3 mutual funds which are holding stakes in Bank of Hawaii Corporation Neuberger Berman Genesis Fund is currently holding 1.58 million shares of worth totaling $118.42 million. The company recently came selling 26152.0 shares which brought its stake up to 3.92% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 2832.0 shares, after which its hold over company’s outstanding shares expand to 3.09%, leaving 1.25 million shares with the mutual fund that have a worth of about $93.42 million. Victory Sycamore Small Company Op, after buying 1.23 million shares, have now control over 3.05% of the stake in the company. It holds 0.0 shares of worth $92.1 million.

Bank of Hawaii Corporation (NYSE: BOH) started trading at $46.24, below -$4.85 from concluding price of the previous day. However, the stock later moved at a day high price of 50.55, or with a loss of -6.83%. Stock saw a price change of -34.72% in past 5 days and over the past one month there was a price change of -38.38%. Year-to-date (YTD), BOH shares are showing a performance of -38.63% which decreased to -43.03% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $34.71 but also hit the highest price of $87.27 during that period. The average intraday trading volume for Bank of Hawaii Corporation shares is 278.53K. The stock is currently trading -33.52% below its 20-day simple moving average (SMA20), while that difference is down -36.78% for SMA50 and it goes to -38.31% lower than SMA200.

The Vanguard Group, Inc. acquired 4.0 million shares of Bank of Hawaii Corporation having value of about $299.1 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 67602.0 shares in the company valued at close to $3217855.2, or have control over 1.72% stake in the company. Bank of Hawaii Corporation (NYSE: BOH) currently have 39.39M outstanding shares and institutions hold larger chunk of about 77.00% of that. Holding of mutual funds in the company is about 3.93% while other institutional holders and individual stake holders have control over 45.63% and 29.92% of the stake respectively.

The stock has a current market capitalization of $2.02B and its 3Y-monthly beta is at 1.03. PE ratio of stock for trailing 12 months is 8.69, while it has posted earnings per share of $5.48 in the same period. Its PEG reads 0.97 while making debt-to-equity ratio of 0.36. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BOH, volatility over the week remained 27.34% while standing at 7.64% over the month.

Analysts are in expectations that Bank of Hawaii Corporation (BOH) stock would likely to be making an EPS of $1.22 in the current quarter, while forecast for next quarter EPS is $1.28 and it is $5.05 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.98 which is $1.35 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.32 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -12.40% while it is estimated to increase by 0.26% in next year. EPS is likely to grow at an annualized rate of 9.00% for next 5-years, compared to annual growth of 4.40% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Compass Point on January 24, 2023 offering a Neutral rating for the stock and assigned a target price of $71 to it. On April 21, 2020, Compass Point Upgrade their recommendations, while on January 02, 2018, Barclays Reiterated their ratings for the stock with a price target of $92. Stock get a Buy rating from Compass Point on December 18, 2017.