Wall Street brokerages expect Bank of Hawaii Co. (NYSE:BOH) to report earnings of $1.34 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Bank of Hawaii’s earnings, with the lowest EPS estimate coming in at $1.30 and the highest estimate coming in at $1.37. Bank of Hawaii posted earnings of $1.08 per share in the same quarter last year, which indicates a positive year over year growth rate of 24.1%. The company is scheduled to announce its next quarterly earnings report on Monday, October 22nd.
According to Zacks, analysts expect that Bank of Hawaii will report full year earnings of $5.28 per share for the current financial year, with EPS estimates ranging from $5.20 to $5.36. For the next financial year, analysts forecast that the firm will report earnings of $5.65 per share, with EPS estimates ranging from $5.55 to $5.78. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for 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 for the quarter, meeting the Zacks’ consensus estimate of $1.30. The firm had revenue of $161.79 million for the quarter, compared to analysts’ expectations of $164.78 million. Bank of Hawaii had a net margin of 28.32% and a return on equity of 16.26%. During the same period in the previous year, the company earned $1.05 earnings per share.
A number of research firms have weighed in on BOH. Zacks Investment Research cut shares of Bank of Hawaii from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley dropped their target price on shares of Bank of Hawaii from $87.00 to $85.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 18th. ValuEngine upgraded shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $89.00 target price on shares of Bank of Hawaii in a research note on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Bank of Hawaii currently has a consensus rating of “Hold” and a consensus target price of $91.08.
In related news, Director Barbara J. Tanabe sold 613 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $83.23, for a total transaction of $51,019.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary G. F. Bitterman sold 367 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $81.91, for a total transaction of $30,060.97. The disclosure for this sale can be found here. Corporate insiders own 2.04% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Bank of Hawaii by 3.0% during the 2nd quarter. BlackRock Inc. now owns 4,874,017 shares of the bank’s stock valued at $406,591,000 after buying an additional 142,150 shares in the last quarter. American Century Companies Inc. lifted its stake in Bank of Hawaii by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 1,874,963 shares of the bank’s stock worth $156,409,000 after purchasing an additional 152,071 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Bank of Hawaii by 2.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,283,935 shares of the bank’s stock worth $106,695,000 after purchasing an additional 35,702 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Bank of Hawaii by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,031,596 shares of the bank’s stock worth $86,056,000 after purchasing an additional 5,418 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Bank of Hawaii by 8.4% in the 2nd quarter. Victory Capital Management Inc. now owns 786,993 shares of the bank’s stock worth $65,651,000 after purchasing an additional 61,195 shares in the last quarter. Institutional investors own 75.03% of the company’s stock.
BOH traded down $0.41 during midday trading on Tuesday, reaching $80.64. The company had a trading volume of 110,300 shares, compared to its average volume of 231,466. 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 stock has a market cap of $3.43 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 1.82 and a beta of 0.68. Bank of Hawaii has a 12-month low of $77.71 and a 12-month high of $89.09.
The business also recently announced a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 31st were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Thursday, August 30th. Bank of Hawaii’s payout ratio is 54.42%.
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.
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