Bank of Hawaii Earnings: Here’s Why Investors are Selling Shares Now
Bank of Hawaii Corporation (NYSE:BOH) delivered a profit and beat Wall Street’s expectations. Shares are down 1.2%.
Bank of Hawaii Corporation Earnings Cheat Sheet
Results: Net income increased 2.73% to $40.3 million (90 cents per diluted share) in the quarter versus a net gain of $39.23 million in the year-earlier quarter.
Actual vs. Wall St. Expectations: Bank of Hawaii Corporation reported adjusted net income of 90 cents per share. By that measure, the company beat the mean analyst estimate of $0.89.
Important Catalyst: Net interest income, on a taxable-equivalent basis, for the fourth quarter of 2012 was $92.7 million, down $3.5 million from net interest income of $96.2 million in the third quarter of 2012 and down $4.5 million from net interest income of $97.2 million in the fourth quarter last year. Net interest income, on a taxable-equivalent basis, for the full year of 2012 was $386.7 million, a decrease of $5.6 million from net interest income of $392.3 million in 2011.