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.
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