Bank of Hawaii (NYSE:BOH) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Bank of Hawaii reported quarterly EPS of $1.47, exceeding analysts’ $1.46 consensus estimate and rising from $1.06 in the same period last year. The bank posted a 14.97% return on equity and a 20.46% net margin.
• BOH shares opened at $84.12, near their 52-week high of $86.31, with a market capitalization of $3.33 billion and a P/E ratio of 16.99.
• Institutional investors own 82.18% of the company’s stock, while analyst sentiment remains cautious: three analysts rate BOH a Buy and five rate it a Hold, resulting in an overall “Hold” consensus and an average price target of $85.80.

Bank of Hawaii (NYSE:BOH - Get Free Report) released its quarterly earnings data on Monday. The bank reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.01, RTT News reports. Bank of Hawaii had a return on equity of 14.97% and a net margin of 20.46%.During the same period in the prior year, the company earned $1.06 earnings per share.

Bank of Hawaii Price Performance

Shares of NYSE BOH opened at $84.12 on Monday. The stock has a fifty day moving average of $80.09 and a 200-day moving average of $77.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $3.33 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.89 and a beta of 0.70. Bank of Hawaii has a fifty-two week low of $59.36 and a fifty-two week high of $86.31.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BOH. Balyasny Asset Management L.P. raised its holdings in Bank of Hawaii by 122.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank's stock worth $66,464,000 after purchasing an additional 557,148 shares during the period. Nuveen LLC increased its stake in shares of Bank of Hawaii by 455.6% in the fourth quarter. Nuveen LLC now owns 491,187 shares of the bank's stock worth $33,582,000 after purchasing an additional 402,774 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Bank of Hawaii by 1,699.7% during the 3rd quarter. Verition Fund Management LLC now owns 265,834 shares of the bank's stock valued at $17,449,000 after buying an additional 251,063 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Bank of Hawaii by 36.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 865,384 shares of the bank's stock worth $59,166,000 after buying an additional 229,806 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in Bank of Hawaii by 163.9% in the 3rd quarter. Two Sigma Investments LP now owns 339,827 shares of the bank's stock worth $22,306,000 after buying an additional 211,076 shares during the period. Institutional investors own 82.18% of the company's stock.

Analyst Ratings Changes

BOH has been the subject of several recent analyst reports. Zacks Research cut shares of Bank of Hawaii from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Stephens boosted their price objective on Bank of Hawaii from $82.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Barclays lifted their price objective on shares of Bank of Hawaii from $86.00 to $88.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 7th. Weiss Ratings raised shares of Bank of Hawaii from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, April 29th. Finally, Piper Sandler cut their target price on Bank of Hawaii from $84.00 to $78.00 and set a "neutral" rating on the stock in a research note on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $85.80.

Bank of Hawaii Company Profile

Bank of Hawaii NYSE: BOH is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.

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