Bank of Hawaii's Earnings Growth Could Be Challenging, Says Bearish Analyst
Bank of Hawaii's Earnings Growth Could Be Challenging, Says Bearish Analyst
Bank of Hawaii Corp (NYSE:BOH) shares are down on Monday, after the company reported its second-quarter earnings.
夏威夷銀行公司（NYSE:BOH）的股價在星期一下跌，此前該公司報告了第二季度的收益。
The stock outperformed the industry in recent weeks, while its profitability lags that of peers, according to Piper Sandler.
根據派傑投資的數據，近幾周夏威夷銀行公司的股票表現優於行業板塊，但其盈利能力仍低於同行。
Analyst Andrew Liesch downgraded the rating for Bank of Hawaii from Neutral to Underweight, while lowering the price target from $70 to $61.
分析師安德魯·利希將夏威夷銀行的評級從中立下調至減持，同時將價格目標從70美元下調至61美元。
The Bank of Hawaii Thesis: While the bank's net interest income and margins should improve "as earning assets reprice higher," much of that benefit is likely to be offset by higher preferred dividends following the $165 million offering in late June, Liesch said in the downgrade note.
利希在下調通知中表示，儘管該行的淨利差和毛利率應會在"收益資產重新定價上升"之後有所改善，但在6月底發行1.65億美元首選股股票後，更高的優先股股息水平有很大可能會抵消這種收益。
Check out other analyst stock ratings.
查看其他分析師的股票評級。
"As such, we think earnings growth could be challenging in the quarters ahead," he added.
"因此，我們認爲未來幾個季度的盈利增長可能會面臨挑戰。"他補充道。
Over the past three months, Bank of Hawaii's shares have gained 11%, while the SPDR S&P Regional Banking ETF (NYSE:KRE) rose by around 5% over the same period, the analyst stated. The bank's shares are currently trading at a "significant premium valuation compared to regional bank peers," he added.
利希指出，過去三個月中，夏威夷銀行的股票上漲了11%，而SPDR S&P 區域銀行ETF（NYSE:KRE）在同一時期上漲了約5%。他補充說，夏威夷銀行的股票目前正在以"較高的溢價估值"進行交易，相對於區域銀行同行來說。
"Of note, Bank of Hawaii has the highest cost of deposits among the largest HI-based banks at 1.81%, but that provides it more opportunity to reduce rates than peers, which would serve it well in a Fed rate cutting regime," Liesch further wrote.
"值得注意的是，夏威夷銀行是夏威夷最大的幾家銀行中存款成本最高的銀行，爲1.81%，但這爲其在聯邦基準利率下調時降低利率提供了更多的機會，這將有益於銀行。"利希進一步寫道。
BOH Price Action: Shares of Bank of Hawaii had declined by 2.69% to $64.03 at the time of publication on Monday.
截至星期一發布時，夏威夷銀行的股價下跌了2.69%，至64.03美元。
Photo: Shutterstock
Photo: shutterstock
譯文內容由第三人軟體翻譯。