Bank Of Hawaii Corp. (BOH)
NYSE:BOH
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Bank Of Hawaii
(NYSE:BOH)
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Rating:78Outperform
Price Target:
$90.00
▲(12.37% Upside)
Action:ReiteratedDate:04/28/26
BOH scores well primarily on solid financial performance (improving profitability, very conservative leverage, and strong TTM cash generation) and a constructive earnings outlook (NIM expansion, improving deposit costs, strong capital/returns). Technicals are supportive with an uptrend, while valuation is reasonable with a mid-teens P/E and attractive yield; key risks are expense pressure, moderated loan growth, and pockets of credit uncertainty.
Positive Factors
Conservative Balance Sheet
Very low leverage and rising equity provide durable loss-absorption capacity and financial flexibility. This conservative capital mix supports continued dividends and buybacks, allows disciplined lending across Pacific markets, and reduces refinancing and liquidity stress risk over the medium term.
Negative Factors
Moderated Loan Growth
Weaker loan growth guidance reduces the compounding effect of credit volume on NII and fees. For a regional bank dependent on local commercial, CRE and consumer lending, persistent low-single-digit growth limits revenue scalability, slows balance-sheet expansion, and constrains long-term EPS leverage.
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Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage and rising equity provide durable loss-absorption capacity and financial flexibility. This conservative capital mix supports continued dividends and buybacks, allows disciplined lending across Pacific markets, and reduces refinancing and liquidity stress risk over the medium term.
Read all positive factors
Bank Of Hawaii (BOH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.15B
Dividend Yield3.99%
Average Volume (3M)371.44K
Price to Earnings (P/E)12.8
Beta (1Y)0.68
Revenue Growth3.35%
EPS Growth39.56%
CountryUS
Employees1,876
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.30
Shares Outstanding39,621,017
10 Day Avg. Volume379,439
30 Day Avg. Volume371,443
Financial Highlights & Ratios
PEG Ratio0.39
Price to Book (P/B)1.46
Price to Sales (P/S)2.50
P/FCF Ratio14.71
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue2.51
Enterprise Value/Gross Profit3.62
Enterprise Value/Ebitda8.47
Forecast
1Y Price Target
$86.25Price Target Upside7.69% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)6
Revenue Forecast (FY)$809.80M
Bank Of Hawaii Business Overview & Revenue Model
Company Description
Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Bankin...
How the Company Makes Money
Bank of Hawaii makes money primarily through (1) net interest income and (2) noninterest income, with operating expenses and credit losses affecting net earnings.
1) Net interest income (core banking spread)
- BOH earns interest income from inter...
Bank Of Hawaii Earnings Call Summary
Earnings Call Date:Apr 20, 2026
(Q1-2026)
| Next Earnings Date:Jul 27, 2026
Earnings Call Sentiment Positive
The call presented a generally constructive operating performance: NIM and NII momentum, improving deposit costs, strong credit metrics, solid capital levels, and tangible progress in strategic initiatives (wealth and hedging). Offsetting items included higher seasonal and one-time operating expenses that pressured reported EPS, a modest decline in noninterest income, moderated loan growth guidance to low-single digits, and near-term storm-related credit uncertainty. On balance the company emphasized durable fundamentals and defensive balance-sheet positioning while acknowledging a few controllable and macro-driven headwinds.Positive Updates
Consistent Net Interest Income and Margin Expansion
Net interest margin (NIM) increased 13 basis points in Q1 (eighth consecutive quarter of NIM expansion) and NII grew by $5.6 million despite two fewer days in the quarter. Management reiterated a year-end NIM target of ~2.9% and noted fixed-asset repricing contributed meaningfully (remixed $643 million from ~4.0% to 5.6% yields), with a mechanical contribution of ~5 bps per quarter (~20 bps/year).
Negative Updates
Quarterly EPS and Net Income Decline
Reported net income of $57.4 million and GAAP EPS of $1.30, down $3.5 million and $0.09 per share versus the linked quarter. Normalizing for nonrecurring items, adjusted EPS was $1.39, but the reported decline reflects elevated Q1 noninterest expense.
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Q1-2026 Updates
Positive
Negative
Consistent Net Interest Income and Margin Expansion
Net interest margin (NIM) increased 13 basis points in Q1 (eighth consecutive quarter of NIM expansion) and NII grew by $5.6 million despite two fewer days in the quarter. Management reiterated a year-end NIM target of ~2.9% and noted fixed-asset repricing contributed meaningfully (remixed $643 million from ~4.0% to 5.6% yields), with a mechanical contribution of ~5 bps per quarter (~20 bps/year).
Read all positive updates
Company Guidance
Management reiterated its goal of approaching a 2.90% net interest margin by year-end (and, assuming no Fed cuts in 2026, sees fixed‑asset repricing adding about 5 bps/quarter or ~20 bps/year toward a longer‑term, structural NIM in the ~3.25%–3.50% range), highlighted a deposit beta of 36% and a quarter‑end spot deposit rate of 1.50% as deposit costs declined 17 bps to 1.26%; CDs averaged 2.89% (spot 2.80%) with >50% maturing in three months at an average 2.91% and expected renewals of 2.25%–3.00%; near‑term P&L guidance includes Q2 noninterest income of ~$42.0M and normalized Q2 noninterest expense of ~$112.0M (annual overhead growth now guided to 2.5%–3.0%, with quarterly merit increases of ~$1.2M), an expected quarterly FDIC assessment of ~$3.2M, continued buybacks of $15–20M planned for Q2 with $106M remaining authorization, a Q2 common dividend of $0.70, a Q1 ACL of $147M (coverage 1.04%, provision this quarter $1.8M), capital ratios well above “well‑capitalized” (Tier 1 14.4%, total risk‑based 15.4%) with preliminary analysis suggesting proposed regulatory changes could boost ratios ~50–100 bps, and a hedging position of $1.2B active pay‑fixed swaps (weighted fixed 3.3%, avg life 1.5 years), $400M forward swaps (3.1%, avg life 2.4 years) and a 59% fixed‑to‑float mix.Bank Of Hawaii Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
76
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.09B | 1.08B | 1.03B | 965.77M | 754.91M | 689.41M |
| Gross Profit | 756.40M | 730.70M | 621.19M | 643.42M | 705.90M | 710.49M |
| EBITDA | 323.51M | 312.73M | 229.37M | 260.11M | 323.85M | 358.13M |
| Net Income | 219.35M | 205.90M | 149.99M | 171.20M | 225.80M | 253.37M |
Balance Sheet | ||||||
| Total Assets | 23.91B | 24.18B | 23.60B | 23.73B | 23.61B | 22.78B |
| Cash, Cash Equivalents and Short-Term Investments | 425.08M | 946.52M | 2.62B | 3.41B | 3.17B | 4.47B |
| Total Debt | 91.21M | 92.40M | 747.07M | 805.37M | 1.24B | 564.09M |
| Total Liabilities | 22.06B | 22.33B | 21.93B | 22.32B | 22.29B | 21.17B |
| Stockholders Equity | 1.85B | 1.85B | 1.67B | 1.41B | 1.32B | 1.61B |
Cash Flow | ||||||
| Free Cash Flow | 219.11M | 184.28M | 168.77M | 140.82M | 304.20M | 354.78M |
| Operating Cash Flow | 240.07M | 218.34M | 178.45M | 150.22M | 332.96M | 377.15M |
| Investing Cash Flow | -538.87M | -403.09M | 20.99M | 562.79M | -1.25B | -2.42B |
| Financing Cash Flow | -211.31M | 367.70M | -436.81M | -113.84M | 761.79M | 1.99B |
Bank Of Hawaii Technical Analysis
Positive
80.09
Price Trends
76.00
Positive
72.72
Positive
68.44
Positive
Market Momentum
1.37
Negative
67.31
Neutral
76.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BOH, the sentiment is Positive. The current price of 80.09 is above the 20-day moving average (MA) of 75.91, above the 50-day MA of 76.00, and above the 200-day MA of 68.44, indicating a bullish trend. The MACD of 1.37 indicates Negative momentum. The RSI at 67.31 is Neutral, neither overbought nor oversold. The STOCH value of 76.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BOH.
Bank Of Hawaii Risk Analysis
Bank Of Hawaii disclosed 31 risk factors in its most recent earnings report. Bank Of Hawaii reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bank Of Hawaii Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $3.15B | 12.79 | 12.12% | 3.99% | 3.35% | 39.56% | |
77 Outperform | $3.11B | 17.04 | 12.91% | 2.96% | 6.83% | 11.88% | |
77 Outperform | $2.96B | 8.69 | 10.62% | 4.69% | 8.48% | 111.63% | |
75 Outperform | $3.58B | 13.08 | 9.16% | 4.00% | -2.88% | 5.22% | |
74 Outperform | $3.07B | 22.99 | 5.56% | 2.25% | 18.20% | 3.44% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $2.80B | 12.32 | 7.50% | 1.34% | 18.88% | -1.29% |
* Financial Sector Average
BOH
Bank Of Hawaii
80.14
14.50
22.08%
CVBF
Cvb Financial
20.45
2.13
11.66%
PRK
Park National
173.26
18.29
11.80%
PFS
Provident Financial Services
22.38
6.11
37.60%
SBCF
Seacoast Banking Of Florida
31.31
7.43
31.14%
FBK
FB Financial
54.17
10.15
23.05%
Bank Of Hawaii Corporate Events
Executive/Board Changes
Bank of Hawaii Updates Executive Incentive and Equity Awards
Positive
Feb 24, 2026
On February 19, 2026, Bank of Hawaii’s Human Resources and Compensation Committee approved 2025 performance-based Executive Incentive Plan awards and 2026 base salaries for its named executive officers, including Chairman and CEO Peter S. Ho...
Business Operations and StrategyExecutive/Board Changes
Bank of Hawaii announces CEO succession and leadership transition
Neutral
Feb 3, 2026
On February 3, 2026, Bank of Hawai‘i announced that longtime Chairman and Chief Executive Officer Peter S. Ho will retire effective March 31, 2026, after leading the bank since 2010 and more than three decades with the company, and will rema...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.