Da Davidson Raises Price Target on Bank of Hawaii (BOH) Following Strong Q1 results
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Price: $80.29 +0.54%
Rating Summary:
2 Buy, 10 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 10 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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DA Davidson is reiterating its Buy rating on shares of Bank of Hawaii (NYSE: BOH) and is raising its price target from $54 to $55 following its Q1 results.
The company reported its Q1 results with an EPS of $0.88, which was well ahead of the Streets and firms estimates of $0.71 and $0.76. Q1 was the first quarter that net interest income stopped declining since it started three quarters ago. It increased ~4% to $99.7 million, well above the firms expectation.
The company repurchased 443 thousand shares this quarter at an average price of $46.93, which is up from last quarters buyback of 258 thousand. The firm states that the deployment of capital and this quarter’s increase in net income boosted ROE from 15.08% to a robust 16.86%.
DA Davidson is raising its FY11 EPS estimate from $2.95 to $3.18 and is reiterating its 2012 estimate of $3.50.
For more ratings news on Bank of Hawaii click here and for the rating history of Bank of Hawaii click here.
Shares of Bank of Hawaii closed at $47.39 yesterday.
The company reported its Q1 results with an EPS of $0.88, which was well ahead of the Streets and firms estimates of $0.71 and $0.76. Q1 was the first quarter that net interest income stopped declining since it started three quarters ago. It increased ~4% to $99.7 million, well above the firms expectation.
The company repurchased 443 thousand shares this quarter at an average price of $46.93, which is up from last quarters buyback of 258 thousand. The firm states that the deployment of capital and this quarter’s increase in net income boosted ROE from 15.08% to a robust 16.86%.
DA Davidson is raising its FY11 EPS estimate from $2.95 to $3.18 and is reiterating its 2012 estimate of $3.50.
For more ratings news on Bank of Hawaii click here and for the rating history of Bank of Hawaii click here.
Shares of Bank of Hawaii closed at $47.39 yesterday.
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