Brokers Set Expectations for Bank of Hawaii Co.’s FY2018 Earnings (BOH)
Bank of Hawaii Co. (NYSE:BOH) – Investment analysts at Jefferies Group increased their FY2018 EPS estimates for shares of Bank of Hawaii in a research note issued on Monday. Jefferies Group analyst C. Haire now expects that the bank will post earnings of $5.35 per share for the year, up from their prior forecast of $4.60. Jefferies Group currently has a “Hold” rating and a $92.00 target price on the stock. Jefferies Group also issued estimates for Bank of Hawaii’s FY2019 earnings at $5.70 EPS.
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Bank of Hawaii from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Monday, October 9th. Piper Jaffray Companies reiterated a “hold” rating and set a $90.50 price objective on shares of Bank of Hawaii in a research note on Tuesday, October 24th. Morgan Stanley increased their price objective on shares of Bank of Hawaii from $76.00 to $88.00 and gave the company an “underweight” rating in a research note on Wednesday, December 13th. Compass Point upgraded shares of Bank of Hawaii from a “neutral” rating to a “buy” rating in a research note on Monday, December 18th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $88.00 price objective on shares of Bank of Hawaii in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $91.92.
Bank of Hawaii (NYSE:BOH) last issued its earnings results on Monday, October 23rd. The bank reported $1.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.08. The business had revenue of $158.73 million for the quarter, compared to the consensus estimate of $163.29 million. Bank of Hawaii had a net margin of 27.27% and a return on equity of 15.45%. During the same period in the prior year, the firm earned $1.02 EPS.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, November 29th. This represents a $2.08 dividend on an annualized basis and a yield of 2.40%. Bank of Hawaii’s payout ratio is 47.93%.
Bank of Hawaii announced that its board has authorized a share buyback program on Monday, October 23rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in shares of Bank of Hawaii in the third quarter worth $117,000. Rocky Mountain Advisers LLC increased its stake in shares of Bank of Hawaii by 13,300.0% in the third quarter. Rocky Mountain Advisers LLC now owns 2,010 shares of the bank’s stock worth $168,000 after acquiring an additional 1,995 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Bank of Hawaii in the third quarter worth $203,000. Trexquant Investment LP acquired a new stake in shares of Bank of Hawaii in the third quarter worth $240,000. Finally, Eagle Ridge Investment Management acquired a new stake in shares of Bank of Hawaii in the third quarter worth $244,000. 75.66% of the stock is owned by institutional investors and hedge funds.
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Bank of Hawaii Company Profile
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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