Bank of Hawaii (NYSE:BOH) Posts Earnings Results, Beats Expectations By $0.15 EPS

by · The Markets Daily

Bank of Hawaii (NYSE:BOHGet Free Report) posted its quarterly earnings results on Monday. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.15, RTT News reports. Bank of Hawaii had a net margin of 17.41% and a return on equity of 13.33%. During the same period in the previous year, the firm earned $0.85 EPS.

Bank of Hawaii Price Performance

NYSE BOH opened at $70.71 on Monday. Bank of Hawaii has a 12 month low of $57.44 and a 12 month high of $76.00. The firm has a market capitalization of $2.81 billion, a PE ratio of 17.33, a P/E/G ratio of 0.62 and a beta of 0.75. The company’s 50 day simple moving average is $68.70 and its 200 day simple moving average is $66.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.70 and a quick ratio of 0.70.

Analyst Upgrades and Downgrades

BOH has been the topic of several research reports. Wall Street Zen lowered Bank of Hawaii from a “hold” rating to a “sell” rating in a research report on Sunday, January 4th. DA Davidson reiterated a “neutral” rating and set a $70.00 target price on shares of Bank of Hawaii in a research note on Tuesday, October 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Bank of Hawaii in a report on Monday, December 29th. Finally, Barclays lifted their price target on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $71.25.

Check Out Our Latest Analysis on Bank of Hawaii

Insider Buying and Selling

In other Bank of Hawaii news, CEO Peter S. Ho sold 15,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $67.87, for a total value of $1,018,050.00. Following the completion of the sale, the chief executive officer directly owned 156,774 shares of the company’s stock, valued at approximately $10,640,251.38. This represents a 8.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BOH. Balyasny Asset Management L.P. increased its holdings in shares of 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 valued at $66,464,000 after purchasing an additional 557,148 shares during the period. Verition Fund Management LLC lifted its position in shares of Bank of Hawaii by 1,699.7% in the third quarter. Verition Fund Management LLC now owns 265,834 shares of the bank’s stock worth $17,449,000 after buying an additional 251,063 shares during the last quarter. Two Sigma Investments LP grew its holdings in Bank of Hawaii by 163.9% during the third quarter. Two Sigma Investments LP now owns 339,827 shares of the bank’s stock valued at $22,306,000 after purchasing an additional 211,076 shares during the last quarter. UBS Group AG raised its holdings in Bank of Hawaii by 199.5% in the 3rd quarter. UBS Group AG now owns 195,454 shares of the bank’s stock worth $12,830,000 after acquiring an additional 130,188 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Bank of Hawaii during the 2nd quarter worth about $6,879,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

About Bank of Hawaii

(Get Free Report)

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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