BUZZ-Bank of Hawaii hits 10-month high after Q3 profit beats expectation

Reuters
2024-10-29

** Shares of regional lender Bank of Hawaii jump 8.8% to $71.86, hitting their highest since January

** BOH posts Q3 profit of 93 cents/shr, beating Wall Street expectations of 82 cents/shr - according to data compiled by LSEG

** Q3 non-interest income of $45.1 mln was ahead of ests. of $43.6 mln

** Provision for credit losses was also lower-than-expected at $3 mln, whereas Wall Street had expected $3.6 mln

** Credit remained excellent - CEO Peter Ho

** Q3 net interest income of $117.6 mln was also better than expectations of $116.3 mln as margins expanded 5 basis points

** As of last close, BOH shares down 8.9% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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