Bank of Hawaii's Q2 EPS rises 31%

Overview

• Bank of Hawaii Q2 EPS rises to $1.06, up from $0.81 last year

• Net income for Q2 increases 39.8% yr/yr to $47.6 mln

• Net interest income grows 12.9% yr/yr, driven by fixed asset repricing

Outlook

• Company highlights strong asset quality and disciplined expense management

Result Drivers

• NET INTEREST INCOME - Driven by higher earning asset yields and fixed asset repricing

• DEPOSIT MIX SHIFT - Lower interest-bearing deposit rates and slowing shift from noninterest-bearing accounts

• NONINTEREST INCOME - Increase due to BOLI recovery gain, offset by lower customer derivative activity

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and 3 "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for Bank of Hawaii Corp is $70.00, about 6.2% above its July 25 closing price of $65.69

• The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nBw2k9jVWa