Click to view the earnings moves in BOH
BOH Delivers Q1 Results: Is This Another Earnings Day Outlier?
Banks aren’t immune to volatility on earnings day, but Bank of Hawaii (BOH) continues to deliver some of the steadiest performance in the sector. Today’s announcement revealed Q1 2026 net income of $57.4 million and diluted EPS of $1.30. The stock responded with a +2.4% move, notably tighter than the options market’s anticipated ±6.1% swing.
What History Tells Us About BOH’s Earnings Moves
Is today’s stock reaction typical for BOH—particularly in the context of historical earnings moves? Let’s break it down. Over the last dozen quarters, BOH’s stock averaged a healthy +2.6% return on earnings days, with gains outnumbering losses 3-to-1. Not only that, the open-to-close performance also leans bullish: the stock closes higher more than 65% of the time after the bell rings.
| Stock Performance | Earnings Move | Open Gap | Open to High | Open to Low | Open to Close |
|---|---|---|---|---|---|
| Average Return | +2.6% | +1.0% | +3.3% | -2.5% | +1.6% |
| % of Moves Up | 75.0% | 58.3% | 66.7% | ||
| % of Moves Down | 25.0% | 41.7% | 33.3% |
It’s worth noting that while the opening gap typically favors the upside (+1.0% on average), it does not guarantee a frustration-free session: the range from high to low can be wide. On many occasions, the stock has also dipped below the open, underscoring the importance of using stop-losses or trailing orders for active traders.
For a deeper look at BOH’s historical earnings price moves—including full statistics and breakdowns—check the comprehensive historical price movement page.
Magnitude of Moves: How Big Are BOH’s Typical Earnings Swings?
| Stock Performance | Earnings Move | Open Gap | Open to High | Open to Low | Open to Close |
|---|---|---|---|---|---|
| Absolute Average Return | 3.5% | 2.3% | 3.3% | 2.5% | 3.0% |
| Max Absolute Return | 10.7% | 5.1% | 6.9% | 6.0% | 6.4% |
| Min Absolute Return | 0.0% | 0.6% | 0.3% | 0.0% | 0.5% |
When it comes to magnitude, the earnings move has averaged around 3.5% in either direction—well below the options market’s expectations for today’s ±6.1% move. This could suggest BOH options were pricing in an above-average risk scenario, possibly due to regional bank sector uncertainties or BOH-specific headlines.
Post-Earnings Action: Does BOH Have Staying Power?
If you’ve missed the initial move, does history show additional opportunity in the days that follow? Intriguingly, BOH’s performance just after earnings tends to be more subdued, with a slight negative average on day one, but a moderate rise (+2.1%) over the next two weeks. That said, the actual percentage of up days climbs as you move 3 days out and into the 2-week period, aligning with the narrative of BOH shaking off earnings day jitters for resilient investors.
| Stock Performance | 1 Day After | 2 Days After | 3 Days After | 1 Week After | 2 Weeks After |
|---|---|---|---|---|---|
| Average Return | -0.1% | -0.7% | +0.2% | +0.1% | +2.1% |
| % of Moves Up | 54.5% | 54.5% | 72.7% | 36.4% | 63.6% |
| % of Moves Down | 45.5% | 45.5% | 27.3% | 63.6% | 36.4% |
Options Market: Lower Than Expected Volume, Focused Interest
Today’s options trading volume was muted, coming in at just 46 contracts. Nonetheless, the standout was the 15-May-26 80 P put contract, reflecting a unique focal point for traders seeking downside protection or speculative leverage. Here’s a snapshot of today’s most actively traded single contract:
| Option Contract | 15-May-26 80 P |
|---|---|
| Volume | 5 |
| VWAP Price | 2.20 |
| Open Interest | 37 |
| Yesterday's Closing Price | 2.40 |
For traders, the takeaway is clear: despite lower than average options activity, the market’s pre-earnings expectations ran high. The relatively muted realized move may mean some calls or puts could lose value quickly—underscoring the importance of aligning options structuring with actual historical volatility and not just implied moves.
The Takeaway: Patterns Persist, Surprises Happen
BOH’s Q1 report confirms its reputation for stability and consistency—not just in fundamentals but in stock performance around earnings day. While options traders priced in more risk than the stock delivered, history shows that most earnings days have brought positive returns (75% of the time). The real question for investors: Will this trend persist as the market digests today’s results, or could overdue volatility finally shake things up next time?
For an even deeper data dive and to explore individual quarter-by-quarter market reactions, check the BOH Historical Earnings Price Movement Statistics page.
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