Financial institution of Hawaii Q3 earnings miss on decrease noninterest revenue, ROE, TBV (NYSE:BOH)

Financial institution of Hawaii (NYSE:BOH) Q3 earnings fell each Q/Q and Y/Y and got here in worse than anticipated Monday as its noninterest revenue, tangible ebook worth and return on common frequent fairness all decelerated throughout the quarter.

Alternatively, “we skilled high quality core market mortgage development and continued internet curiosity revenue and margin enlargement,” stated President and CEO Peter Ho. “Asset high quality, capital, and liquidity remained robust.”

Q3 EPS of $1.28 at September 30 fell in need of the typical Wall Avenue estimate of $1.38 and slid from $1.38 at June 30 and 1.53 at Sep. 30, 2021.

Noninterest revenue fell to $30.66M from $42.16M within the prior quarter and $41.39M a yr earlier than. Internet curiosity revenue, although, accelerated to $141.66M from $132.9M in Q2 and $126.82M within the year-ago interval.

Internet curiosity margin of two.60% in contrast with 2.47% in Q2 and a couple of.32% in Q3 2021.

Return on common frequent fairness was 16.98% vs. 18.19% in Q2 and 17.08% in Q3 of final yr.

Tangible ebook worth declined to $26.76 per share from $28.30 in Q2 and $34.38 in Q3 2021.

The regional lender additionally declared a quarterly dividend of $0.70 a share, matching the earlier payout.

Convention name at 8:00 a.m. Hawaii time (2:00 p.m. New York time).

Earlier, Financial institution of Hawaii GAAP EPS of $1.28 misses by $0.10, income of $172.31M misses by $10.89M.