Bank of Hawaii Co. Expected to Post Q2 2024 Earnings of $0.87 Per Share (NYSE:BOH)

Bank of Hawaii Co. (NYSE:BOH) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Bank of Hawaii in a research note issued to investors on Tuesday, April 23rd. DA Davidson analyst J. Rulis expects that the bank will post earnings of $0.87 per share for the quarter. The consensus estimate for Bank of Hawaii’s current full-year earnings is $3.60 per share. DA Davidson also issued estimates for Bank of Hawaii’s FY2024 earnings at $3.50 EPS and FY2025 earnings at $3.70 EPS.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, April 22nd. The bank reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The business had revenue of $252.64 million for the quarter, compared to the consensus estimate of $160.79 million. Bank of Hawaii had a return on equity of 13.25% and a net margin of 15.91%. During the same quarter last year, the business posted $1.14 earnings per share.

Several other analysts have also issued reports on BOH. StockNews.com upgraded Bank of Hawaii to a “sell” rating in a research note on Thursday, January 25th. Barclays lowered their target price on Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating on the stock in a research note on Tuesday. Jefferies Financial Group lowered their target price on Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Keefe, Bruyette & Woods boosted their target price on Bank of Hawaii from $55.00 to $58.00 and gave the company an “underperform” rating in a research note on Tuesday. Finally, Piper Sandler lowered their target price on Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $52.20.

Bank of Hawaii Stock Performance

Shares of Bank of Hawaii stock opened at $59.11 on Wednesday. The business’s fifty day simple moving average is $60.29 and its 200 day simple moving average is $60.79. The firm has a market capitalization of $2.35 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 2.02 and a beta of 1.06. Bank of Hawaii has a 12 month low of $30.83 and a 12 month high of $75.19. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.45.

Bank of Hawaii Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Thursday, May 30th. Bank of Hawaii’s payout ratio is 72.16%.

Hedge Funds Weigh In On Bank of Hawaii

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. purchased a new position in shares of Bank of Hawaii in the 3rd quarter worth about $37,000. IFP Advisors Inc purchased a new position in shares of Bank of Hawaii in the 3rd quarter worth about $39,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Bank of Hawaii by 2,197.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 781 shares of the bank’s stock worth $39,000 after purchasing an additional 747 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Bank of Hawaii in the 4th quarter worth about $41,000. Finally, Quest Partners LLC purchased a new position in shares of Bank of Hawaii in the 4th quarter worth about $41,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

About Bank of Hawaii

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.