Regional banking institution Bank of Hawaii (NYSE:BOH) will be reporting earnings this Monday before the bell. Here’s what to expect.
Bank of Hawaii beat analysts’ revenue expectations by 0.8% last quarter, reporting revenues of $169.9 million, up 8.7% year on year. It was a strong quarter for the company, with a decent beat of analysts’ EPS estimates and a narrow beat of analysts’ net interest income estimates.
Is Bank of Hawaii a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Bank of Hawaii’s revenue to grow 12.8% year on year to $177 million, a reversal from the 6.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.06 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bank of Hawaii has missed Wall Street’s revenue estimates four times over the last two years.
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. Atlantic Union Bankshares delivered year-on-year revenue growth of 86.2%, beating analysts’ expectations by 12.5%, and Seacoast Banking reported revenues up 19.6%, topping estimates by 5%. Atlantic Union Bankshares traded down 1.9% following the results while Seacoast Banking’s stock price was unchanged.
Read our full analysis of Atlantic Union Bankshares’s results here and Seacoast Banking’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 4% on average over the last month. Bank of Hawaii is down 1.3% during the same time and is heading into earnings with an average analyst price target of $73.20 (compared to the current share price of $66.95).
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