Bank of Hawaii Co. (BOH) to Post FY2018 Earnings of $5.35 Per Share, Jefferies Group Forecasts

Bank of Hawaii Co. (NYSE:BOH) – Jefferies Group upped their FY2018 EPS estimates for Bank of Hawaii in a report 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 previous forecast of $4.60. 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 FY2019 earnings at $5.70 EPS.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, October 23rd. The bank reported $1.08 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.08. Bank of Hawaii had a net margin of 27.27% and a return on equity of 15.45%. The firm had revenue of $158.73 million during the quarter, compared to analyst estimates of $163.29 million. During the same quarter in the prior year, the firm earned $1.02 EPS.

Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of Bank of Hawaii from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research report on Wednesday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $92.50 price target on shares of Bank of Hawaii in a research report on Tuesday. Barclays upped their price target on shares of Bank of Hawaii from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $92.00 price target on shares of Bank of Hawaii in a research report on Friday, December 22nd. Finally, Compass Point raised shares of Bank of Hawaii from a “neutral” rating to a “buy” rating in a research report on Monday, December 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $92.25.

Bank of Hawaii (NYSE:BOH) traded up $1.07 during midday trading on Wednesday, hitting $87.87. 206,286 shares of the stock traded hands, compared to its average volume of 199,648. Bank of Hawaii has a 12-month low of $74.72 and a 12-month high of $90.20. The stock has a market cap of $3,680.00, a price-to-earnings ratio of 20.25, a P/E/G ratio of 2.15 and a beta of 0.97. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.22.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.37%. Bank of Hawaii’s dividend payout ratio (DPR) is presently 47.93%.

Bank of Hawaii declared that its Board of Directors has initiated a share buyback plan on Monday, October 23rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Large investors have recently made changes to their positions in the stock. 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 grew its stake 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 acquiring an additional 1,995 shares during the period. 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. Institutional investors own 75.66% of the company’s stock.

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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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