Regional banking institution Bank of Hawaii (NYSE: BOH) will be announcing earnings results this Monday before the bell. Here’s what to expect.
Bank of Hawaii met analysts’ revenue expectations last quarter, reporting revenues of $194.5 million, up 12.8% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and net interest income in line with analysts’ estimates.
Is Bank of Hawaii a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Bank of Hawaii’s revenue to grow 13.6% year on year, improving from the 11% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Bank of Hawaii rarely misses Wall Street’s revenue estimates.
Looking at Bank of Hawaii’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and Hilltop Holdings reported revenues up 7.5%, topping estimates by 3.4%. OFG Bancorp traded up 4.2% following the results while Hilltop Holdings was also up 3%.
Read our full analysis of OFG Bancorp’s results here and Hilltop Holdings’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices flat over the last month. Bank of Hawaii is up 2.5% during the same time and is heading into earnings with an average analyst price target of $87.83 (compared to the current share price of $84.02).
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