Mixed Bag In Paradise: Bank Of Hawaii Q4 Beats On Profit, Despite Revenue Miss, Net Interest Income Takes A Dive
Portfolio Pulse from Lekha Gupta
Bank of Hawaii Corp (NYSE:BOH) reported mixed Q4 FY23 results with adjusted EPS of $1.01 beating estimates by $0.01, but revenue fell short at $158.07 million against expectations of $161.5 million. Net interest income declined significantly by 17.7% Y/Y due to higher funding costs. The bank did not repurchase any shares and declared a dividend of $0.70, payable in March 2024. BOH shares dropped slightly in premarket trading.
January 22, 2024 | 2:18 pm
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NEGATIVE IMPACT
Bank of Hawaii's Q4 report showed a mixed performance with a slight EPS beat and a revenue miss. Net interest income suffered a significant year-over-year decline, but the bank maintained its dividend payout.
The revenue miss and significant decline in net interest income are likely to concern investors, overshadowing the slight EPS beat. The lack of share repurchases could also be viewed negatively, although the dividend announcement may provide some support. Overall, the negative aspects could lead to a short-term negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100