Bank of Hawaii Posts $64.3M Third-Quarter Net Income
BOH sits 17% above its 52-week low of $60.955.
Summary
Bank of Hawaii reported third-quarter net income of $64.3 million, or $1.49 per share, up from the $63.8 million it earned in the second quarter. The sequential gain is modest but points to steady earnings at a regional bank whose results hinge on net interest margin and credit costs, and the quarter's profit rose on higher net interest income. The net interest margin rose to 2.82%, and the board raised the share repurchase authorization by $200 million to $268.7 million. The prior quarter's $1.47 EPS and $63.8 million net income are the reference point for judging the trend.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Bank of Hawaii's net interest margin rose to 2.82% and its board raised the share repurchase authorization by $200 million to $268.7 million.
At the time of this announcement, BOH was trading at $71.29 on NYSE in the Finance sector, with a market capitalization of approximately $2.8B. The 52-week trading range was $60.96 to $86.31. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.