Bank of Hawaii Co. (NYSE:BOH) Sees Significant Decline in Short Interest

Bank of Hawaii Co. (NYSE:BOH) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 4,160,000 shares, a decrease of 5.5% from the October 15th total of 4,400,000 shares. Based on an average daily volume of 326,900 shares, the days-to-cover ratio is presently 12.7 days. Currently, 10.7% of the company’s shares are sold short.

Bank of Hawaii Price Performance

Shares of NYSE BOH opened at $77.21 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $3.07 billion, a PE ratio of 23.18, a P/E/G ratio of 5.10 and a beta of 1.03. Bank of Hawaii has a 1-year low of $54.50 and a 1-year high of $81.45. The business’s fifty day moving average price is $68.02 and its two-hundred day moving average price is $63.72.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. The business had revenue of $265.76 million for the quarter, compared to analysts’ expectations of $160.29 million. During the same quarter last year, the company earned $1.17 EPS. On average, research analysts expect that Bank of Hawaii will post 3.52 EPS for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.63%. The ex-dividend date is Friday, November 29th. Bank of Hawaii’s dividend payout ratio is currently 84.08%.

Insider Activity at Bank of Hawaii

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of Bank of Hawaii stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total value of $97,925.85. Following the completion of the sale, the insider now owns 13,717 shares in the company, valued at $991,327.59. The trade was a 8.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.47% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BOH. Russell Investments Group Ltd. grew its position in Bank of Hawaii by 41.3% in the 1st quarter. Russell Investments Group Ltd. now owns 8,776 shares of the bank’s stock valued at $548,000 after buying an additional 2,566 shares in the last quarter. ProShare Advisors LLC lifted its position in Bank of Hawaii by 7.4% in the first quarter. ProShare Advisors LLC now owns 7,921 shares of the bank’s stock worth $494,000 after purchasing an additional 544 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Bank of Hawaii by 299.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 44,694 shares of the bank’s stock valued at $2,788,000 after purchasing an additional 33,495 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Bank of Hawaii by 6.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 39,255 shares of the bank’s stock valued at $2,447,000 after purchasing an additional 2,465 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Bank of Hawaii by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,881 shares of the bank’s stock worth $2,052,000 after buying an additional 1,398 shares in the last quarter. Institutional investors own 82.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BOH shares. Barclays upped their price objective on Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their target price on shares of Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Piper Sandler raised their price objective on Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Finally, DA Davidson boosted their target price on shares of Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $64.80.

About Bank of Hawaii

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, overdraft 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, as well as 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.