BUZZ-Bank of Hawaii gets 'overweight' rating as Stephens starts coverage

Reuters

Nov 28, 2024

** Stephens initiates coverage of regional lender Bank of Hawaii BOH.N with "overweight" rating and $90 PT, a 12.8% upside to stock's last close

** Brokerage says BOH's leading market share in Hawaii should allow for deposit pricing power with lower rates

** Brokerage adds that BOH's pole position has led to an extremely tenured and loyal deposit base, giving the bank more pricing flexibility as rates decline

** Stephens additionally favors the bank's stable credit quality with low-risk portfolio

** "Wondering where the love is for shares here, specifically as we're now the only buy rating" - Stephens

** One of seven brokerages rate the stock "strong buy", two "hold" and four "sell"; their median PT is $70, according to data compiled by LSEG

** As of last close, BOH shares up 10.1% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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their median PT is $70, according to data compiled by LSEG** As of last close, BOH shares up 10.1% YTD (Reporting by Arasu Kannagi Basil in Bengaluru) ((ArasuKannagi.Basil@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}