Bank of Hawaii price target raised to $70 from $58 at Piper Sandler

Piper Sandler raised the firm’s price target on Bank of Hawaii to $70 from $58 and keeps a Neutral rating on the shares following quarterly results. The firm’s notable model adjustments include a slightly improved margin outlook, but a smaller earning asset base, and as a result, lower net interest income. In addition, Piper increased its fee income forecast and lowered its expense outlook, but shifted a portion of its provision assumptions from this year into 2025.