Analysts set expectations for Bank of Hawaii Co. earnings in Q3 2022 (NYSE: BOH)
Bank of Hawaii Co. (NYSE: BOH – Get a rating) – DA Davidson Research analysts released their third quarter 2022 earnings per share (EPS) estimates for Bank of Hawaii shares in a research note released to investors on Tuesday, July 26. DA Davidson analyst J. Rulis expects the bank to post earnings of $1.40 per share for the quarter. The consensus estimate for Bank of Hawaii’s current annual earnings is $5.49 per share. DA Davidson also released earnings estimates for Bank of Hawaii for fiscal 2023 at $6.25 EPS.
Bank of Hawaii (NYSE: BOH – Get a rating) last released its results on Monday, July 25. The bank reported earnings per share (EPS) of $1.38 for the quarter, beating the consensus estimate of $1.35 by $0.03. Bank of Hawaii had a return on equity of 17.98% and a net margin of 33.63%. During the same period last year, the company earned earnings per share of $1.68.
A number of other brokerages have also recently released reports on BOH. Jefferies Financial Group reduced its price target on Bank of Hawaii from $87.00 to $79.00 in a Monday, July 11 research note. StockNews.com downgraded Bank of Hawaii shares from a “hold” to a “sell” rating in a Monday, May 23 research report.
Bank of Hawaii trades up 0.8%
NYSE: BOH opened at $79.25 on Wednesday. The company has a debt ratio of 0.01, a current ratio of 0.64 and a quick ratio of 0.61. Bank of Hawaii has a 1-year low of $70.89 and a 1-year high of $92.38. The company has a market capitalization of $3.19 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.78 and a beta of 1.13. The stock’s fifty-day moving average price is $75.97 and its two-hundred-day moving average price is $80.73.
Bank of Hawaii Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15. Investors of record on Wednesday, August 31 will receive a dividend of $0.70 per share. The ex-dividend date is Tuesday, August 30. This represents an annualized dividend of $2.80 and a yield of 3.53%. Bank of Hawaii’s payout ratio is 48.53%.
Insiders place their bets
In related news, CEO Peter S.Ho sold 5,500 shares in a trade that took place on Tuesday, May 10. The shares were sold at an average price of $74.51, for a total transaction of $409,805.00. Following the completion of the sale, the CEO now owns 244,681 shares of the company, valued at $18,231,181.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Insiders hold 2.06% of the shares of the company.
Hedge funds weigh on Bank of Hawaii
Several hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Russell Investments Group Ltd. increased its position in Bank of Hawaii shares by 282.6% during the fourth quarter. Russell Investments Group Ltd. now owns 35,223 shares of the bank valued at $2,948,000 after acquiring 26,017 additional shares in the last quarter. The New York State Teachers’ Retirement System increased its stake in Bank of Hawaii stock by 4.4% during the 4th quarter. The New York State Teachers’ Retirement System now owns 84,310 shares of the bank worth $7,062,000 after purchasing 3,517 additional shares during the period. State of Michigan Retirement System increased its stake in Bank of Hawaii shares by 2.0% during the 4th quarter. State of Michigan Retirement System now owns 10,299 shares of the bank worth $863,000 after purchasing an additional 200 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Bank of Hawaii in Q4, valued at approximately $244,000. Finally, Vestmark Advisory Solutions Inc. increased its stake in Bank of Hawaii by 14.6% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,285 shares of the bank valued at $359,000 after buying an additional 546 shares in the last quarter. 71.07% of the shares are held by hedge funds and other institutional investors.
About Bank of Hawaii
Bank of Hawaii Corporation operates as a bank holding company for Bank of Hawaii which 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 Others. The Consumer Banking segment offers checking, savings and term deposit accounts; residential mortgages, home equity lines of credit, auto loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards; banking, investment, credit and trust services to individuals and families, and high net worth individuals; investment management; institutional investment advisory services to corporations, government entities and foundations; and brokerage offerings, including stocks, mutual funds, life insurance and annuity products.
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