Wunderlich Reiterates Buy Rating, $55 PT On BOH

Wunderlich Securities is reiterating its Buy rating on Bank of Hawaii Corporation (NYSE: BOH), as well as its $55 price target.

“BOH reported EPS for 1Q11 of $0.88, beating the entire range of analysts' estimates, including our $0.75 estimate and consensus of $0.72,” Wunderlich Securities writes. “Even after excluding a $6.1 million pretax securities gain, we estimate core EPS of $0.80, which still beat the highest analyst estimate of $0.78 for the first quarter of 2011.”

“BOH is likely to continue driving above-average returns that are steady, predictable, and repeatable for the foreseeable future, hence our Buy recommendation on the shares.

Bank of Hawaii closed Monday at $47.39.