Bank of Hawaii (NYSE:BOH) Issues Earnings Results

Key Points

• Bank of Hawaii reported quarterly earnings of $1.06 per share, surpassing consensus estimates by $0.02.
• The bank has a strong return on equity of 12.16% and a net margin of 15.12%, indicating robust financial performance.
• Influential institutional investors, such as AQR Capital Management, have significantly increased their stakes, reflecting growing confidence in the bank's prospects.

Bank of Hawaii (NYSE:BOH - Get Free Report) issued its quarterly earnings data on Monday. The bank reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.02, Zacks reports. The firm had revenue of $174.48 million for the quarter, compared to analysts' expectations of $177.82 million. Bank of Hawaii had a net margin of 16.30% and a return on equity of 12.67%. During the same period in the prior year, the company earned $0.81 EPS.

Bank of Hawaii Trading Down 0.1%

NYSE BOH traded down $0.08 during mid-day trading on Thursday, hitting $62.12. The company's stock had a trading volume of 174,794 shares, compared to its average volume of 428,701. Bank of Hawaii has a 52-week low of $57.44 and a 52-week high of $82.70. The stock's fifty day simple moving average is $67.17 and its two-hundred day simple moving average is $68.42. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.71. The firm has a market capitalization of $2.47 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 1.01 and a beta of 0.77.

Bank of Hawaii Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.80 annualized dividend and a yield of 4.51%. Bank of Hawaii's payout ratio is 78.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays upped their target price on shares of Bank of Hawaii from $67.00 to $68.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Stephens lowered their price target on shares of Bank of Hawaii from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Tuesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Bank of Hawaii presently has an average rating of "Hold" and an average price target of $74.40.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its stake in shares of Bank of Hawaii by 16.4% during the first quarter. Royal Bank of Canada now owns 26,241 shares of the bank's stock valued at $1,808,000 after purchasing an additional 3,689 shares during the period. AQR Capital Management LLC grew its position in shares of Bank of Hawaii by 177.5% during the first quarter. AQR Capital Management LLC now owns 23,818 shares of the bank's stock worth $1,617,000 after buying an additional 15,234 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Bank of Hawaii by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank's stock worth $1,605,000 after buying an additional 1,027 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Bank of Hawaii by 35.8% during the first quarter. Intech Investment Management LLC now owns 19,808 shares of the bank's stock worth $1,366,000 after buying an additional 5,227 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Bank of Hawaii during the first quarter worth approximately $41,000. Hedge funds and other institutional investors own 82.18% of the company's stock.

Bank of Hawaii Company Profile

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, overdraft lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, as well as high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.