Bank of Hawaii Corporation (BOH) Expected to Announce Quarterly Sales of $163.54 Million
Equities research analysts forecast that Bank of Hawaii Corporation (NYSE:BOH) will announce sales of $163.54 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Bank of Hawaii Corporation’s earnings. The lowest sales estimate is $161.98 million and the highest is $165.10 million. Bank of Hawaii Corporation posted sales of $152.03 million during the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The firm is expected to announce its next quarterly earnings results on Monday, October 23rd.
On average, analysts expect that Bank of Hawaii Corporation will report full-year sales of $163.54 million for the current financial year, with estimates ranging from $649.80 million to $660.27 million. For the next financial year, analysts expect that the business will post sales of $686.38 million per share, with estimates ranging from $676.57 million to $694.98 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Bank of Hawaii Corporation.
Bank of Hawaii Corporation (NYSE:BOH) last released its earnings results on Monday, July 24th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. Bank of Hawaii Corporation had a return on equity of 15.45% and a net margin of 27.28%. The business had revenue of $157.52 million for the quarter, compared to analyst estimates of $157.76 million. During the same quarter in the prior year, the company posted $1.03 earnings per share.
A number of equities analysts have issued reports on BOH shares. Zacks Investment Research upgraded Bank of Hawaii Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. BidaskClub downgraded Bank of Hawaii Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Barclays PLC lifted their price target on Bank of Hawaii Corporation from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $85.00 price target on shares of Bank of Hawaii Corporation in a research note on Friday. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Bank of Hawaii Corporation currently has a consensus rating of “Hold” and an average price target of $86.40.
In other news, insider Donna A. Tanoue sold 4,050 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $76.15, for a total value of $308,407.50. Following the transaction, the insider now owns 9,969 shares in the company, valued at approximately $759,139.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donna A. Tanoue sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $76.88, for a total value of $461,280.00. Following the completion of the transaction, the insider now owns 9,969 shares in the company, valued at approximately $766,416.72. The disclosure for this sale can be found here. Insiders sold a total of 11,235 shares of company stock worth $860,767 in the last 90 days. Company insiders own 2.16% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors Inc. boosted its stake in shares of Bank of Hawaii Corporation by 4.0% in the 2nd quarter. Wasatch Advisors Inc. now owns 787,183 shares of the bank’s stock worth $65,313,000 after buying an additional 30,009 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Bank of Hawaii Corporation by 8.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 53,129 shares of the bank’s stock worth $4,408,000 after purchasing an additional 4,252 shares during the period. Koch Industries Inc. bought a new stake in shares of Bank of Hawaii Corporation in the 2nd quarter worth approximately $364,000. Dean Capital Management bought a new stake in shares of Bank of Hawaii Corporation in the 2nd quarter worth approximately $3,164,000. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Bank of Hawaii Corporation by 1.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,782 shares of the bank’s stock worth $1,061,000 after purchasing an additional 211 shares during the period. Hedge funds and other institutional investors own 75.66% of the company’s stock.
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Bank of Hawaii Corporation (NYSE:BOH) traded up 1.12% during mid-day trading on Friday, reaching $78.69. The company’s stock had a trading volume of 367,530 shares. Bank of Hawaii Corporation has a 52-week low of $70.12 and a 52-week high of $90.80. The firm has a 50 day moving average price of $79.90 and a 200 day moving average price of $81.13. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 18.39 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Tuesday, August 29th. This is an increase from Bank of Hawaii Corporation’s previous quarterly dividend of $0.50. Bank of Hawaii Corporation’s payout ratio is presently 48.48%.
About Bank of Hawaii Corporation
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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