olivLaw · US equity research
Bank Of Hawaii Corporation BOH
State Commercial Banks · SIC 6022 · Vertical: State Commercial Banks (SIC 6022)
At the close of 04 Nov 2026, Bank Of Hawaii Corporation (BOH) stock was 71.20 USD (+1.38% on the day), with market capitalisation 2.8 bn USD, P/E 12.3 on diluted EPS of 5.78 USD over the last 12 months, dividend yield 3.93%, beta 0.76, 52-week range 63.09–85.85 USD. Latest reported quarter (Q3 2026): net income of 64.3 m USD (+20.5% YoY), diluted EPS 1.49 USD.
Data as of · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 55.6
- strong (55–70)
- Bollinger (20, 2)
- 65.41 – 72.27
- in the upper half of the band · %B 0.84 · band width 10.0%
- SMA 50 / 200
- 71.50 / 76.33
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.01 / -0.51
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +4.7% | −1.1% | +5.8 pp | — |
| 3 months | −10.6% | −0.5% | −10.1 pp | — |
| 6 months | −11.8% | +4.4% | −16.2 pp | — |
| Year to date | +4.1% | +12.3% | −8.2 pp | — |
| 1 year | +10.4% | +13.5% | −3.2 pp | +25.9% |
| 3 years | +27.6% | +76.4% | −48.8 pp | +69.9% |
| 5 years | −18.5% | +63.7% | −82.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Depreciation & amortisation | 4.7 m | 4.7 m | 10.4 m ≈ | 7.7 m ≈ | -4.1 m | 4.7 m | 9.2 m ≈ | 7.3 m ≈ |
| Pre-tax income | 51.5 m | 56.2 m | 60.4 m | 67.8 m | 77.6 m | 74.5 m | 82.1 m | 83.7 m |
| Income tax | 12.4 m | 12.2 m | 12.8 m | 14.4 m | 16.7 m | 17.1 m | 18.3 m | 19.4 m |
| Net income | 39.2 m | 44.0 m | 47.6 m | 53.3 m | 60.9 m | 57.4 m | 63.8 m | 64.3 m |
| Diluted EPS | 0.98 ≈ | 0.97 | 1.06 | 1.20 | 1.52 ≈ | 1.30 | 1.47 | 1.49 |
| Operating cash flow | 90.2 m | 18.3 m | 81.7 m ≈ | 38.5 m ≈ | 79.8 m | 39.0 m | 97.4 m ≈ | 99.0 m ≈ |
| Capex | -2.8 m | 8.1 m | 9.0 m ≈ | 8.7 m ≈ | 8.2 m | 20.9 m | 12.6 m ≈ | 6.0 m ≈ |
| Dividends paid | 28.1 m | 28.2 m | 28.2 m ≈ | 28.3 m ≈ | 28.2 m | 28.3 m | 27.9 m ≈ | 27.9 m ≈ |
| Share repurchases | -5.1 m | 0 | 0 ≈ | 0 ≈ | 5.0 m | 15.1 m | 17.0 m ≈ | 20.2 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 15 percentile of its own 40-quarter history (min 8.1, median 15.7, max 21.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable | unavailable | 112.7 m | 116.0 m | 122.1 m | 121.9 m |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable | unavailable | +3.0% | +5.2% | −0.1% |
| Net income | 219.6 m | 225.9 m | 153.8 m | 253.4 m | 225.8 m | 171.2 m | 150.0 m | 205.9 m |
| Net income YoY | +18.9% | +2.9% | −31.9% | +64.7% | −10.9% | −24.2% | −12.4% | +37.3% |
| Diluted EPS | 5.23 | 5.56 | 3.86 | 6.25 | 5.48 | 4.14 | 3.46 | 4.63 |
| Diluted EPS YoY | +20.8% | +6.3% | −30.6% | +61.9% | −12.3% | −24.5% | −16.4% | +33.8% |
| net % | unavailable | unavailable | unavailable | unavailable | 200.4% | 147.6% | 122.9% | 168.9% |
| Free cash flow | 282.6 m | 180.3 m | 113.1 m | 354.8 m | 304.2 m | 129.4 m | 161.3 m | 184.3 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 946.5 m USD
- Financial debt
- 550.0 m USD
- Net debt
- -396.5 m USD
- Equity
- 1.9 bn USD
- Total assets
- 24.2 bn USD
- Debt / equity
- 0.30x
- Current ratio
- unavailable
- ROE
- 11.7%
- ROA
- 0.9%
- FCF margin
- 151.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Net interest income | 496.3 m | 497.3 m | 540.6 m | 497.0 m | 466.6 m | 537.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Net fee income | 184.4 m | 171.4 m | 157.5 m | 176.6 m | 172.5 m | 179.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Non-interest expense | 373.8 m | 393.6 m | 415.3 m | 437.5 m | 430.1 m | 443.1 m | SEC (XBRL)· 24 Feb 2026verified |
| Pre-tax income | 189.1 m | 325.6 m | 290.6 m | 227.1 m | 197.9 m | 262.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Net income | 153.8 m | 253.4 m | 225.8 m | 171.2 m | 150.0 m | 205.9 m | SEC (XBRL)· 24 Feb 2026verified |
| Diluted EPS | 3.86 | 6.25 | 5.48 | 4.14 | 3.46 | 4.63 | SEC (XBRL)· 24 Feb 2026verified |
| Dividend per share | 2.80 | 2.74 | 2.80 | 2.80 | 2.80 | 2.80 | SEC (XBRL)· 24 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 614.1 m | 560.4 m | 401.8 m | 1.0 bn | 763.6 m | 946.5 m | SEC (XBRL)· 24 Feb 2026verified |
| Loans | 11.7 bn | 12.1 bn | 13.5 bn | 13.8 bn | 13.9 bn | 13.9 bn | SEC (XBRL)· 24 Feb 2026verified |
| Total assets | 20.6 bn | 22.8 bn | 23.6 bn | 23.7 bn | 23.6 bn | 24.2 bn | SEC (XBRL)· 24 Feb 2026verified |
| Deposits | 18.2 bn | 20.4 bn | 20.6 bn | 21.1 bn | 20.6 bn | 21.2 bn | SEC (XBRL)· 24 Feb 2026verified |
| Long-term debt | — | — | — | 550.0 m | 550.0 m | 550.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Total liabilities | 19.2 bn | 21.2 bn | 22.3 bn | 22.3 bn | 21.9 bn | 22.3 bn | SEC (XBRL)· 24 Feb 2026verified |
| Equity | 1.4 bn † | 1.6 bn † | 1.3 bn † | 1.4 bn † | 1.7 bn † | 1.9 bn † | SEC (XBRL)· 24 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Dividends paid | 107.4 m | 110.6 m | 112.6 m | 111.8 m | 112.3 m | 113.0 m | SEC (XBRL)· 24 Feb 2026verified |
| Share repurchases | 18.0 m | 31.3 m | 55.1 m | 9.9 m | 0 | 5.0 m | SEC (XBRL)· 24 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Market and valuation
Banking
32 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 48 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 2.8 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation43
- Balance sheet76
- Quality53
- Growth11
- Returns85
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 36.79 – 89.33 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Residual income49.97 – 52.21 (Mid 51.07)
- Justified P/B66.43 – 89.33 (Mid 76.19)
- Dividend discount (DDM)36.79 – 49.48 (Mid 42.21)
- Peers: P/E67.75 – 80.19 (Mid 74.67)31 companies used · median multiple 12.9x · quartiles 11.7x – 13.9xBFST, BHB, BNY, BPOP, BUSE, BWFG, CBSH, CFFI, CFG, CIVB, COFS, COSO, EWBC, FVCB, FXNC, GBFH, INBK, LKFN, MCB, MCHB, MNSB, MTB, MVBF, NTRS, ORRF, PEBO, STT, TCBI, UBCP, UBSI, WASH
- Peers: P/B52.55 – 65.16 (Mid 59.58)32 companies used · median multiple 1.3x · quartiles 1.1x – 1.4xBCML, BFST, BHB, BPOP, BRBS, BUSE, BWFG, CBFV, CBSH, CFFI, CFG, CIVB, COFS, COSO, EWBC, FITB, FVCB, FXNC, GBFH, INBK, MCB, MNSB, MTB, MVBF, ORRF, PEBO, STT, TCBI, UBCP, UBSI, UCB, WASH
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 48/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | 13.6% | 76 (vs peers) | 19% |
| ROA · Quality | 1.0% | 45 (on a fixed band) | 7% |
| Cost-to-income · Quality | 57.7% | 29 (on a fixed band) | 12% |
| Net interest margin · Quality | 2.5% | 41 (on a fixed band) | 7% |
| EPS CAGR 3Y · Growth | -5.5% | 0 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 2.7% | 27 (on a fixed band) | 7% |
| NPL ratio · Balance sheet | unavailable | unavailable | — |
| Cost of risk · Balance sheet | unavailable | unavailable | — |
| Loan-to-deposit · Balance sheet | 69.5% | 76 (on a fixed band) | 5% |
| P/B · Valuation | 1.5x | 22 (vs peers) | 12% |
| P/E (TTM) · Valuation | 12.3x | 65 (vs peers) | 12% |
| Dividend yield · Returns | 3.9% | 85 (vs peers) | 10% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial76/100 · 1/3 factors with a value
- Growth11/100 · 2/2 factors with a value
- Quality53/100 · 4/4 factors with a value
- Returns85/100 · 1/1 factors with a value
- Valuation43/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
BANK OF HAWAII CORPORATION (BOH). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: net interest income 537.5 m USD in 2025; YoY growth -0.1%; net margin 202.1%; ROE 13.6%.
The estimated value range is 52.55–65.16 USD per share (median of 5 methods, agreement: low); assumptions are illustrative. Against the central value of 59.58 USD, the price of 71.20 USD leaves a potential of -16.3% (value / price − 1) and a margin of safety of -19.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 48/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROE: 13.6%
- Loan-to-deposit: 69.5%
- Dividend yield: 3.9%
What contradicts it
- Cost-to-income: 57.7%
- EPS CAGR 3Y: -5.5%
- Revenue CAGR 3Y: 2.7%
- P/B: 1.5x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): NPL ratio, Cost of risk.
Versus the vertical median
State Commercial Banks (SIC 6022) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BNYThe Bank Of New York Mellon Corporation | 102.8 bn | 16.8 | 15.0% | 32.6% | +7.8% | +36% / +216% |
| FITBFifth Third Bancorp | 49.4 bn | 18.4 | 9.4% | — | −2.0% | +26% / +89% |
| STTState Street Corporation | 47.2 bn | 13.9 | 13.1% | 23.8% | +7.3% | +46% / +138% |
| MTBM&T Bank Corp | 32.4 bn | 11.7 | 10.7% | 178.1% | +7.5% | +18% / +75% |
| NTRSNorthern Trust Corporation | 32.2 bn | 13.7 | 18.4% | 28.8% | −2.5% | +36% / +125% |
| CFGCitizens Financial Group Inc | 27.6 bn | 13.0 | 8.9% | 25.4% | +5.6% | +22% / +142% |
| EWBCEast West Bancorp, Inc. | 18.4 bn | 12.9 | 16.6% | — | +4.4% | +26% / +113% |
| BPOPPopular, Inc. | 10.1 bn | 10.7 | 15.6% | — | unavailable | +38% / +115% |
| CBSHCommerce Bancshares, Inc. | 8.1 bn | 13.8 | 14.6% | — | unavailable | +9% / +29% |
| UBSIUnited Bankshares Inc | 6.7 bn | 13.4 | 9.5% | — | −5.7% | +32% / +49% |
| UCBUnited Community Banks, Inc. | 4.5 bn | 31.7 | 4.1% | 17.8% | +11.7% | +23% / +53% |
| TCBITexas Capital Bancshares Inc | 4.5 bn | 13.4 | 10.2% | — | unavailable | +18% / +93% |
| BOHBank Of Hawaii Corporation | 2.8 bn | 12.3 | 13.6% | 202.1% | −0.1% | +10% / +28% |
| BUSEFirst Busey Corporation | 2.4 bn | 11.9 | 9.6% | 29.3% | +55.7% | +25% / +35% |
| LKFNLakeland Financial Corporation | 1.6 bn | 14.1 | 15.4% | — | −2.1% | +8% / +13% |
| PEBOPeoples Bancorp Inc. | 1.4 bn | 11.7 | 10.1% | 136.3% | +2.3% | +34% / +35% |
| MCBMetropolitan Bank Holding Corp. | 1.2 bn | 12.4 | 10.2% | 860.0% | −53.8% | +31% / +151% |
| BFSTBusiness First Bancshares, Inc. | 1.1 bn | 11.6 | 10.1% | 768.0% | +1.2% | +27% / +63% |
| ORRFOrrstown Financial Services, Inc. | 890.4 m | 10.2 | 14.8% | 232.4% | +36.0% | +27% / +89% |
| WASHWashington Trust Bancorp Inc | 768.3 m | 14.0 | 10.2% | 23.7% | +127.6% | +42% / +51% |
| BHBBar Harbor Bankshares | 712.7 m | 14.4 | 9.7% | — | +3.4% | +42% / +64% |
| CUBBCustomers Bancorp, Inc. | 701.4 m | 2.5 | 14.3% | — | −14.0% | −3% / +9% |
| CIVBCivista Bancshares, Inc. | 599.1 m | 11.0 | 11.2% | 276.9% | −0.5% | +27% / +84% |
| BWFGBankwell Financial Group, Inc. | 584.1 m | 12.9 | 14.5% | 1,437.5% | +44.0% | +60% / +172% |
| COFSChoiceOne Financial Services, Inc. | 562.5 m | 10.4 | 12.0% | 42.0% | +63.6% | +24% / +50% |
1- and 3-year price returns: for BOH from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 44.89 Total return -34% · Per year -34% | 79.43 Total return 16% · Per year 16% | 119.74 Total return 73% · Per year 73% |
| 3 years | 41.98 Total return -31% · Per year -12% | 83.72 Total return 31% · Per year 9% | 138.81 Total return 112% · Per year 28% |
| 5 years | 39.25 Total return -29% · Per year -7% | 88.25 Total return 47% · Per year 8% | 160.91 Total return 157% · Per year 21% |
- Exit P/E± 20.93
- Net margin± 14.65
- Annual revenue growth± 12.24
- Annual dilution± 1.23
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report26 Oct 2026
- Current report26 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report28 Jul 2026
- Current report27 Jul 2026Results of operations · Financial statements and exhibits
- Current report28 Apr 2026Shareholder vote
- Quarterly report27 Apr 2026
- Current report20 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement13 Mar 2026
- Annual report24 Feb 2026
- Current report24 Feb 2026Departure or appointment of officers · Financial statements and exhibits
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.