Bank Of Hawaii Q2 Sales Miss Estimates On Lower Net Interest Income, Deposits Fall
Portfolio Pulse from Nabaparna Bhattacharya
Bank Of Hawaii Corporation (NYSE:BOH) reported Q2 revenues of $167.60 million, missing the consensus of $170.07 million. Net interest income fell 6.4% Y/Y to $124.3 million, primarily due to higher funding costs. Total deposits decreased by 2.5% from the previous year. The company's net income was down 19% Y/Y. However, BOH shares traded higher by 3.51% at $55.58 on the last check Monday.
July 24, 2023 | 2:32 pm
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NEUTRAL IMPACT
Bank Of Hawaii's Q2 revenues and net income fell short of expectations, but its shares traded higher. The decrease in net interest income and total deposits could impact the company's short-term performance.
Bank Of Hawaii's lower-than-expected Q2 revenues and net income, along with a decrease in net interest income and total deposits, could negatively impact its short-term performance. However, the increase in its share price indicates that investors may have already factored in these results.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100