Bank of Hawaii price target raised to $70 from $63 at DA Davidson

DA Davidson raised the firm’s price target on Bank of Hawaii to $70 from $63 and keeps a Neutral rating on the shares after its in-line Q2 operating EPS of 86c per share. The company’s balance sheet growth was elusive in the first half of the year but a return to net interest income growth and an upturn in net interest margin in Q2 bode well for the second, the analyst tells investors in a research note. Bank of Hawaii’s loan growth also looks to be gaining traction and expenses are well within expectations, the firm added.