Jefferies Group Comments on Bank of Hawaii Corp.’s Q1 2017 Earnings (BOH)
Bank of Hawaii Corp. (NYSE:BOH) – Equities researchers at Jefferies Group issued their Q1 2017 earnings estimates for Bank of Hawaii Corp. in a research report issued to clients and investors on Tuesday. Jefferies Group analyst C. Haire expects that the firm will post earnings per share of $0.93 for the quarter. Jefferies Group also issued estimates for Bank of Hawaii Corp.’s Q2 2017 earnings at $0.99 EPS, Q3 2017 earnings at $1.03 EPS and Q4 2017 earnings at $1.05 EPS.
Several other research firms have also recently weighed in on BOH. Zacks Investment Research upgraded shares of Bank of Hawaii Corp. from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Monday. RBC Capital Markets restated a “sector perform” rating and issued a $72.00 price objective (up from $68.00) on shares of Bank of Hawaii Corp. in a research report on Tuesday, July 26th. Compass Point initiated coverage on shares of Bank of Hawaii Corp. in a research report on Thursday, August 11th. They issued a “neutral” rating and a $69.00 price objective on the stock. Piper Jaffray Cos. initiated coverage on shares of Bank of Hawaii Corp. in a research report on Friday, July 8th. They issued a “neutral” rating and a $70.00 price objective on the stock. Finally, Barclays PLC restated an “equal weight” rating and issued a $66.00 price objective on shares of Bank of Hawaii Corp. in a research report on Tuesday, July 26th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $70.00.
Bank of Hawaii Corp. (NYSE:BOH) traded down 1.71% on Thursday, reaching $72.54. 89,200 shares of the company’s stock traded hands. The firm has a market cap of $3.11 billion, a PE ratio of 18.28 and a beta of 0.99. Bank of Hawaii Corp. has a 12 month low of $54.55 and a 12 month high of $74.69. The firm’s 50-day moving average is $72.02 and its 200 day moving average is $69.65.
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Bank of Hawaii Corp. (NYSE:BOH) last released its quarterly earnings results on Monday, July 25th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. Bank of Hawaii Corp. had a net margin of 26.96% and a return on equity of 15.21%. The firm earned $150.10 million during the quarter, compared to analyst estimates of $149.13 million. During the same quarter last year, the business earned $0.95 EPS. The company’s revenue was up 4.4% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.60%. The ex-dividend date was Monday, August 29th. Bank of Hawaii Corp.’s dividend payout ratio is currently 48.36%.
A number of hedge funds have recently modified their holdings of the company. TIAA CREF Investment Management LLC raised its stake in shares of Bank of Hawaii Corp. by 15.5% in the first quarter. TIAA CREF Investment Management LLC now owns 111,789 shares of the company’s stock valued at $7,633,000 after buying an additional 14,976 shares in the last quarter. Retirement Systems of Alabama raised its stake in Bank of Hawaii Corp. by 7.5% in the second quarter. Retirement Systems of Alabama now owns 186,371 shares of the company’s stock worth $12,822,000 after buying an additional 13,039 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in Bank of Hawaii Corp. during the first quarter worth $629,000. Metropolitan Life Insurance Co. NY raised its stake in Bank of Hawaii Corp. by 2.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 39,082 shares of the company’s stock worth $2,669,000 after buying an additional 946 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in Bank of Hawaii Corp. by 141.4% in the second quarter. BNP Paribas Arbitrage SA now owns 25,808 shares of the company’s stock worth $1,776,000 after buying an additional 15,116 shares during the period. 76.08% of the stock is owned by institutional investors and hedge funds.
Bank of Hawaii Corp. 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 services and products primarily to customers in Hawaii, Guam and other Pacific Islands. The Company operates through four business segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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