Bank of Hawaii Co. (NYSE: BOH – Get a rating) was the target of strong short-term interest growth in August. As of August 31, there was short interest totaling 2,050,000 shares, a growth of 10.8% from the total of 1,850,000 shares as of August 15. 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 stock’s shares are sold short.
Insiders place their bets
In related news, CEO Peter S.Ho sold 5,500 shares of Bank of Hawaii in a trade dated Wednesday, August 10. The shares were sold at an average price of $81.67, for a total transaction of $449,185.00. Following completion of the transaction, the CEO now directly owns 239,181 shares of the company, valued at approximately $19,533,912.27. The transaction was disclosed in an SEC filing, which is available via the SEC website. Company insiders hold 2.06% of the company’s shares.
Institutional entries and exits
Major investors have recently changed their stake in the company. Victory Capital Management Inc. increased its position in Bank of Hawaii by 39.8% during the second quarter. Victory Capital Management Inc. now owns 2,167,240 shares of the bank worth $161,242,000 after purchasing an additional 617,432 shares in the last quarter. State Street Corp increased its stake in Bank of Hawaii shares by 10.9% in the 1st quarter. State Street Corp now owns 1,777,119 shares of the bank valued at $149,136,000 after acquiring an additional 174,889 shares in the last quarter. Grandeur Peak Global Advisors LLC increased its stake in Bank of Hawaii shares by 175.2% in Q1. Grandeur Peak Global Advisors LLC now owns 191,968 shares of the bank valued at $16,110,000 after acquiring an additional 122,215 shares in the last quarter. Country Club Bank GFN bought a new stake in shares of Bank of Hawaii in Q1 worth $10,039,000. Finally, Northern Trust Corp increased its stake in Bank of Hawaii shares by 25.8% in the 1st quarter. Northern Trust Corp now owns 447,658 shares of the bank valued at $37,568,000 after acquiring 91,791 additional shares in the last quarter. Institutional investors hold 74.84% of the company’s shares.
Bank of Hawaii trades up 1.4%
BOH traded $1.13 on Monday, reaching $80.50. 143,208 shares of the company were traded, against an 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 company 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 capitalization 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 ratio of 0.01.
Bank of Hawaii (NYSE: BOH – Get a rating) last reported quarterly earnings data on Monday, July 25. The bank reported earnings per share of $1.38 for the quarter, beating consensus analyst 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%. In the same quarter last year, the company posted earnings per share of $1.68. As a group, equity research analysts expect Bank of Hawaii to post earnings per share of 5.64 for the current year.
Bank of Hawaii announces dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15. Shareholders of record on Wednesday August 31 received a dividend of $0.70. The ex-dividend date was Tuesday, August 30. This represents an annualized dividend of $2.80 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 stock analysts have recently commented on the stock. Jefferies Financial Group lowered its price target on Bank of Hawaii shares from $87.00 to $79.00 in a Monday, July 11 research note. StockNews.com downgraded Bank of Hawaii shares from a “hold” rating to a “sell” rating in a report on Tuesday, September 13.
Bank of Hawaii Corporate Profile
Bank of Hawaii Corporation operates as a bank holding company for Bank of Hawaii which 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 Others. The Consumer Banking segment offers checking, savings and term deposit accounts; residential mortgages, home equity lines of credit, auto loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards; 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 stocks, mutual funds, life insurance and annuity products.
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider Bank of Hawaii, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Bank of Hawaii didn’t make the list.
While Bank of Hawaii currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here