Bank of Hawaii included in DA Davidson ‘Best of Breed Bison’ list

DA Davidson keeps a Neutral rating and $60 price target on Bank of Hawaii while naming the stock to the firm’s “Best-of-Breed Bison” initiative, which focuses on long-term best-in-class companies with sustainable competitive moats. The company’s enduring competitive advantage is centered in being the most recognized and reputable locally run bank in a truly unique banking geography as the Hawaiian market is void of a U.S. national bank presence with 97% of deposit market share controlled by five local institutions, of which, BOH holds a dominant 33% share, the analyst tells investors in a research note. The firm adds that the bank’s strong and trusted brand built over a 125 year history is twice “more effective” than the next closest competitor according to annual third-party surveys, while its deposit franchise has both longevity and pricing power.