Research Analysts Issue Forecasts for Bank of Hawaii Co.’s Q1 2018 Earnings (BOH)
Bank of Hawaii Co. (NYSE:BOH) – Equities researchers at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for shares of Bank of Hawaii in a research report issued on Tuesday. Jefferies Group analyst C. Haire anticipates that the bank will earn $1.23 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $92.00 price target on the stock. Jefferies Group also issued estimates for Bank of Hawaii’s Q2 2018 earnings at $1.33 EPS, Q3 2018 earnings at $1.38 EPS and Q4 2018 earnings at $1.40 EPS.
BOH has been the topic of several other reports. Piper Jaffray Companies reaffirmed a “hold” rating and set a $92.50 price objective on shares of Bank of Hawaii in a report on Tuesday. Zacks Investment Research cut Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $88.00 price objective on shares of Bank of Hawaii in a report on Tuesday, October 24th. Morgan Stanley reaffirmed an “underweight” rating and set a $77.00 price objective (up from $75.00) on shares of Bank of Hawaii in a report on Wednesday, October 4th. Finally, Barclays upped their price objective on Bank of Hawaii from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $92.25.
Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings data on Monday, October 23rd. The bank reported $1.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.08. The business had revenue of $158.73 million for the quarter, compared to analysts’ expectations of $163.29 million. Bank of Hawaii had a return on equity of 15.45% and a net margin of 27.27%. During the same period in the prior year, the firm earned $1.02 EPS.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Wednesday, November 29th. Bank of Hawaii’s dividend payout ratio is currently 47.82%.
Bank of Hawaii declared that its board has authorized a stock buyback plan on Monday, October 23rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOH. Quantbot Technologies LP bought a new position in shares of Bank of Hawaii during the 3rd quarter valued at approximately $117,000. Rocky Mountain Advisers LLC increased its position in shares of Bank of Hawaii by 13,300.0% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,010 shares of the bank’s stock valued at $168,000 after purchasing an additional 1,995 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Bank of Hawaii during the 3rd quarter valued at approximately $203,000. Trexquant Investment LP bought a new position in shares of Bank of Hawaii during the 3rd quarter valued at approximately $240,000. Finally, Eagle Ridge Investment Management bought a new position in shares of Bank of Hawaii during the 3rd quarter valued at approximately $244,000. 75.66% of the stock is currently owned by hedge funds and other institutional investors.
About Bank of Hawaii
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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