We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bank of Hawaii (BOH) Stock Jumps 5.5%: Will It Continue to Soar?
Read MoreHide Full Article
Bank of Hawaii (BOH - Free Report) shares ended the last trading session 5.5% higher at $77.95. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.9% loss over the past four weeks.
The performance of banks is expected to continue improving in the second quarter, given the higher interest rates and a rise in demand for loans. Investors are also bullish about the banking sector on expectations of further interest rate hikes this year. This possibly led to the optimistic stance of the investors, which drove the BOH stock.
This bank holding company is expected to post quarterly earnings of $1.37 per share in its upcoming report, which represents a year-over-year change of -18.5%. Revenues are expected to be $173.6 million, up 3.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Bank of Hawaii, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BOH going forward to see if this recent jump can turn into more strength down the road.
Bank of Hawaii is a member of the Zacks Banks - West industry. One other stock in the same industry, Cathay General (CATY - Free Report) , finished the last trading session 3.1% higher at $39.58. CATY has returned -4% over the past month.
For Cathay, the consensus EPS estimate for the upcoming report has changed +3.6% over the past month to $1.14. This represents a change of +17.5% from what the company reported a year ago. Cathay currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bank of Hawaii (BOH) Stock Jumps 5.5%: Will It Continue to Soar?
Bank of Hawaii (BOH - Free Report) shares ended the last trading session 5.5% higher at $77.95. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.9% loss over the past four weeks.
The performance of banks is expected to continue improving in the second quarter, given the higher interest rates and a rise in demand for loans. Investors are also bullish about the banking sector on expectations of further interest rate hikes this year. This possibly led to the optimistic stance of the investors, which drove the BOH stock.
This bank holding company is expected to post quarterly earnings of $1.37 per share in its upcoming report, which represents a year-over-year change of -18.5%. Revenues are expected to be $173.6 million, up 3.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Bank of Hawaii, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BOH going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Bank of Hawaii is a member of the Zacks Banks - West industry. One other stock in the same industry, Cathay General (CATY - Free Report) , finished the last trading session 3.1% higher at $39.58. CATY has returned -4% over the past month.
For Cathay, the consensus EPS estimate for the upcoming report has changed +3.6% over the past month to $1.14. This represents a change of +17.5% from what the company reported a year ago. Cathay currently has a Zacks Rank of #3 (Hold).