Keefe keeps Market Perform on Bank of Hawaii, says margin likely under pressure

Keefe Bruyette analyst Kelly Motta notes that Bank of Hawaii provided 2023 guidance on its conference call. Formal points of guidance were in line with the firm’s estimates. Company commentary on net interest margin suggested Q4 was likely peak NIM with modest declines in Q1 and Q2 2023, which likely sent the stock lower during the call, the firm adds. Keefe Bruyette has a Market Perform on the shares with a price target of $87.