Regional banking institution Bank of Hawaii (NYSE: BOH) will be reporting earnings this Monday before market hours. Here’s what to expect.
Bank of Hawaii met analysts’ revenue expectations last quarter, reporting revenues of $199.3 million, up 13.2% year on year. It was a slower quarter for the company, with a miss of analysts’ net interest income estimates and EPS 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 9% year on year, slowing from the 13.2% 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 has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Bank of Hawaii’s peers in the regional banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Byline Bancorp delivered year-on-year revenue growth of 4.6%, beating analysts’ expectations by 3.7%, and First Citizens BancShares reported flat revenue, topping estimates by 2%. Byline Bancorp traded up 1.1% following the results.
Read our full analysis of Byline Bancorp’s results here and First Citizens BancShares’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 down 1.4% during the same time and is heading into earnings with an average analyst price target of $81.17 (compared to the current share price of $70.65).
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