Wall Street analysts forecast that Bank of Hawaii Co. (NYSE:BOH) will post sales of $165.69 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Bank of Hawaii’s earnings. The highest sales estimate is $167.80 million and the lowest is $163.47 million. Bank of Hawaii posted sales of $158.73 million in the same quarter last year, which suggests a positive year over year growth rate of 4.4%. The company is scheduled to issue its next quarterly earnings results on Monday, October 22nd.
On average, analysts expect that Bank of Hawaii will report full-year sales of $660.39 million for the current year, with estimates ranging from $653.29 million to $666.47 million. For the next year, analysts expect that the company will post sales of $693.10 million per share, with estimates ranging from $681.23 million to $707.27 million. Zacks’ sales averages are an average based on a survey of analysts that follow Bank of Hawaii.
Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, July 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.30. The company had revenue of $161.79 million during the quarter, compared to analyst estimates of $164.78 million. Bank of Hawaii had a return on equity of 16.26% and a net margin of 28.32%. During the same quarter in the prior year, the company earned $1.05 earnings per share.
A number of analysts have recently issued reports on BOH shares. Zacks Investment Research upgraded Bank of Hawaii from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a report on Thursday, July 12th. ValuEngine upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $89.00 price objective on shares of Bank of Hawaii in a report on Tuesday, July 24th. Finally, Morgan Stanley increased their price objective on Bank of Hawaii from $86.00 to $87.00 and gave the stock an “underweight” rating in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $91.42.
Shares of BOH traded up $0.65 during mid-day trading on Friday, reaching $83.25. The company’s stock had a trading volume of 156,400 shares, compared to its average volume of 230,573. The firm has a market capitalization of $3.52 billion, a P/E ratio of 18.71, a PEG ratio of 1.87 and a beta of 0.68. Bank of Hawaii has a 1 year low of $74.86 and a 1 year high of $89.09. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.19.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Friday, August 31st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $2.40 annualized dividend and a dividend yield of 2.88%. Bank of Hawaii’s dividend payout ratio is 54.42%.
In related news, Director Barbara J. Tanabe sold 613 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $83.23, for a total transaction of $51,019.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary G. F. Bitterman sold 367 shares of the stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $81.91, for a total value of $30,060.97. The disclosure for this sale can be found here. 2.04% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Arizona State Retirement System increased its position in Bank of Hawaii by 2.3% during the second quarter. Arizona State Retirement System now owns 29,345 shares of the bank’s stock worth $2,448,000 after buying an additional 671 shares during the last quarter. BB&T Securities LLC increased its position in Bank of Hawaii by 5.4% during the first quarter. BB&T Securities LLC now owns 13,295 shares of the bank’s stock worth $1,104,000 after buying an additional 677 shares during the last quarter. Blair William & Co. IL increased its position in Bank of Hawaii by 20.4% during the first quarter. Blair William & Co. IL now owns 5,049 shares of the bank’s stock worth $420,000 after buying an additional 854 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Bank of Hawaii by 44.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,258 shares of the bank’s stock worth $271,000 after buying an additional 1,002 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its position in Bank of Hawaii by 19.9% during the second quarter. Xact Kapitalforvaltning AB now owns 6,637 shares of the bank’s stock worth $554,000 after buying an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 75.32% of the company’s stock.
About Bank of Hawaii
Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides financial products and services in Hawaii, Guam, and other Pacific Islands. It operates through four segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bank of Hawaii Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Hawaii and related companies with MarketBeat.com's FREE daily email newsletter.