Equities analysts forecast that Bank of Hawaii Co. (NYSE:BOH) will announce sales of $167.85 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bank of Hawaii’s earnings, with estimates ranging from $167.79 million to $167.90 million. Bank of Hawaii posted sales of $161.79 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The company is expected to report its next earnings results on Monday, July 22nd.
On average, analysts expect that Bank of Hawaii will report full year sales of $678.12 million for the current financial year, with estimates ranging from $676.60 million to $679.64 million. For the next year, analysts expect that the firm will post sales of $701.49 million, with estimates ranging from $689.80 million to $713.18 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Bank of Hawaii.
Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, April 22nd. The bank reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The company had revenue of $168.52 million during the quarter, compared to analyst estimates of $166.51 million. Bank of Hawaii had a return on equity of 17.81% and a net margin of 30.64%. During the same period in the prior year, the company posted $1.28 earnings per share.
Several research firms recently commented on BOH. Zacks Investment Research downgraded Bank of Hawaii from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Compass Point downgraded Bank of Hawaii from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $83.00 to $82.00 in a research note on Monday, April 22nd. Finally, ValuEngine upgraded Bank of Hawaii from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $85.60.
BOH stock opened at $79.59 on Monday. Bank of Hawaii has a 12-month low of $63.64 and a 12-month high of $88.92. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $3.32 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.93 and a beta of 0.87.
Bank of Hawaii declared that its board has approved a stock repurchase plan on Monday, January 28th that permits the company to repurchase $130.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.65 dividend. This is an increase from Bank of Hawaii’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.60 annualized dividend and a yield of 3.27%. Bank of Hawaii’s dividend payout ratio is presently 47.42%.
In related news, Vice Chairman James C. Polk sold 6,176 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $80.82, for a total value of $499,144.32. Following the transaction, the insider now owns 31,291 shares in the company, valued at $2,528,938.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.13% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd purchased a new position in Bank of Hawaii in the fourth quarter valued at approximately $25,000. Lindbrook Capital LLC purchased a new stake in shares of Bank of Hawaii during the fourth quarter worth $34,000. Enlightenment Research LLC purchased a new stake in shares of Bank of Hawaii during the fourth quarter worth $40,000. Toronto Dominion Bank purchased a new stake in shares of Bank of Hawaii during the fourth quarter worth $47,000. Finally, Destination Wealth Management lifted its position in shares of Bank of Hawaii by 100.0% during the fourth quarter. Destination Wealth Management now owns 1,000 shares of the bank’s stock worth $67,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 75.56% of the company’s stock.
About Bank of Hawaii
Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides financial products and services in Hawaii, Guam, and other Pacific Islands. It operates through four segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other.
Further Reading: Special Dividends
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bank of Hawaii Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Hawaii and related companies with MarketBeat.com's FREE daily email newsletter.