Bank of Hawaii (NYSE:BOH) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Bank of Hawaii (NYSE:BOHGet Rating) posted its quarterly earnings data on Monday. The bank reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.08, MarketWatch Earnings reports. Bank of Hawaii had a return on equity of 19.31% and a net margin of 29.91%. The business had revenue of $213.49 million during the quarter, compared to the consensus estimate of $181.09 million. During the same period in the prior year, the company earned $1.55 earnings per share.

Bank of Hawaii Stock Down 0.5 %

Bank of Hawaii stock opened at $74.68 on Wednesday. The company has a 50-day simple moving average of $78.37 and a 200-day simple moving average of $78.24. Bank of Hawaii has a one year low of $70.15 and a one year high of $89.30. The firm has a market capitalization of $2.99 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.69 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.65 and a current ratio of 0.65.

Bank of Hawaii Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 14th. Shareholders of record on Tuesday, February 28th will be paid a $0.70 dividend. The ex-dividend date is Monday, February 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.75%. Bank of Hawaii’s payout ratio is currently 50.63%.

Insider Buying and Selling

In other Bank of Hawaii news, CEO Peter S. Ho sold 5,500 shares of the business’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $79.30, for a total transaction of $436,150.00. Following the completion of the transaction, the chief executive officer now owns 233,681 shares in the company, valued at approximately $18,530,903.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.06% of the company’s stock.

Institutional Investors Weigh In On Bank of Hawaii

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Bank of Hawaii by 5.8% during the first quarter. JPMorgan Chase & Co. now owns 70,245 shares of the bank’s stock valued at $5,895,000 after buying an additional 3,843 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Bank of Hawaii by 15.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 15,739 shares of the bank’s stock valued at $1,322,000 after purchasing an additional 2,093 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Bank of Hawaii by 43.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,531 shares of the bank’s stock valued at $1,219,000 after purchasing an additional 4,423 shares during the period. Private Advisor Group LLC boosted its stake in Bank of Hawaii by 6.1% during the 1st quarter. Private Advisor Group LLC now owns 8,757 shares of the bank’s stock valued at $735,000 after purchasing an additional 501 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in Bank of Hawaii by 32.7% in the 1st quarter. MetLife Investment Management LLC now owns 26,023 shares of the bank’s stock valued at $2,184,000 after acquiring an additional 6,407 shares in the last quarter. 74.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Compass Point cut Bank of Hawaii from a “buy” rating to a “neutral” rating and set a $71.00 price objective for the company. in a research report on Tuesday. DA Davidson decreased their price objective on Bank of Hawaii from $80.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 25th. Finally, StockNews.com lowered Bank of Hawaii from a “hold” rating to a “sell” rating in a research note on Tuesday, December 6th.

About Bank of Hawaii

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Bank of Hawaii Corp. operates as a bank holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other. The Retail Banking segment offers financial products and services to consumers and small businesses.

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Earnings History for Bank of Hawaii (NYSE:BOH)

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