Bank of Hawaii Co. (NYSE:BOH – Get Rating) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 2,050,000 shares, a growth of 10.8% from the August 15th total of 1,850,000 shares. Based on an average daily trading volume, of 168,000 shares, the short-interest ratio is currently 12.2 days. Currently, 5.2% of the shares of the stock are short sold.
Insiders Place Their Bets
In related news, CEO Peter S. Ho sold 5,500 shares of Bank of Hawaii stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $81.67, for a total transaction of $449,185.00. Following the completion of the transaction, the chief executive officer now directly owns 239,181 shares of the company’s stock, valued at approximately $19,533,912.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.06% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Bank of Hawaii by 39.8% during the 2nd quarter. Victory Capital Management Inc. now owns 2,167,240 shares of the bank’s stock worth $161,242,000 after purchasing an additional 617,432 shares during the last quarter. State Street Corp boosted its holdings in shares of Bank of Hawaii by 10.9% in the 1st quarter. State Street Corp now owns 1,777,119 shares of the bank’s stock valued at $149,136,000 after acquiring an additional 174,889 shares during the last quarter. Grandeur Peak Global Advisors LLC boosted its holdings in shares of Bank of Hawaii by 175.2% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 191,968 shares of the bank’s stock valued at $16,110,000 after acquiring an additional 122,215 shares during the last quarter. Country Club Bank GFN purchased a new stake in shares of Bank of Hawaii in the 1st quarter valued at $10,039,000. Finally, Northern Trust Corp boosted its holdings in shares of Bank of Hawaii by 25.8% in the 1st quarter. Northern Trust Corp now owns 447,658 shares of the bank’s stock valued at $37,568,000 after acquiring an additional 91,791 shares during the last quarter. Institutional investors own 74.84% of the company’s stock.
Bank of Hawaii Trading Up 1.4 %
BOH traded up $1.13 on Monday, reaching $80.50. 143,208 shares of the company traded hands, compared to its average volume of 188,264. Bank of Hawaii has a one year low of $70.89 and a one year high of $92.38. The firm has a fifty day simple moving average of $79.07 and a two-hundred day simple moving average of $78.71. The company has a market cap of $3.23 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.01.
Bank of Hawaii (NYSE:BOH – Get Rating) last announced its quarterly earnings data on Monday, July 25th. The bank reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Bank of Hawaii had a net margin of 33.63% and a return on equity of 17.98%. During the same quarter last year, the business posted $1.68 earnings per share. As a group, equities research analysts expect that Bank of Hawaii will post 5.64 earnings per share for the current year.
Bank of Hawaii Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.80 annualized dividend and a dividend yield of 3.48%. Bank of Hawaii’s dividend payout ratio is currently 48.53%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. Jefferies Financial Group dropped their price target on shares of Bank of Hawaii from $87.00 to $79.00 in a research note on Monday, July 11th. StockNews.com lowered shares of Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th.
Bank of Hawaii Company Profile
Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides various financial products and services in Hawaii, Guam, and other Pacific Islands. It operates in three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers checking, savings, and time deposit accounts; residential mortgage loans, home equity lines of credit, automobile loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards; private and international client banking, investment, credit, and trust services to individuals and families, and high-net-worth individuals; investment management; institutional investment advisory services to corporations, government entities, and foundations; and brokerage offerings, including equities, mutual funds, life insurance, and annuity products.
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