Bank of Hawaii Co. (NYSE:BOH) Short Interest Update

Bank of Hawaii Co. (NYSE:BOH) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 4,160,000 shares, a decline 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 currently 12.7 days. Currently, 10.7% of the shares of the stock are short sold.

Bank of Hawaii Stock Down 0.5 %

Shares of Bank of Hawaii stock opened at $77.21 on Tuesday. Bank of Hawaii has a 1 year low of $54.50 and a 1 year high of $81.45. The company has a market cap of $3.07 billion, a P/E ratio of 23.18, a P/E/G ratio of 5.10 and a beta of 1.03. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $68.02 and a 200 day moving average price of $63.72.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $160.29 million. During the same period in the prior year, the firm earned $1.17 earnings per share. As a group, analysts expect that Bank of Hawaii will post 3.52 EPS for the current fiscal year.

Bank of Hawaii Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend 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 that occurred on Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total value of $97,925.85. Following the transaction, the insider now owns 13,717 shares in the company, valued at approximately $991,327.59. The trade was a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.47% of the company’s stock.

Hedge Funds Weigh In On Bank of Hawaii

Hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bank of Hawaii in the second quarter valued at about $106,000. Point72 DIFC Ltd bought a new stake in shares of Bank of Hawaii in the 2nd quarter valued at approximately $119,000. UMB Bank n.a. increased its holdings in Bank of Hawaii by 5,508.3% in the third quarter. UMB Bank n.a. now owns 2,692 shares of the bank’s stock worth $169,000 after buying an additional 2,644 shares during the last quarter. Rothschild Investment LLC bought a new position in Bank of Hawaii during the second quarter valued at approximately $172,000. Finally, Bridges Investment Management Inc. acquired a new stake in Bank of Hawaii in the second quarter valued at approximately $205,000. 82.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BOH has been the topic of a number of recent research reports. Barclays lifted their target price on Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Piper Sandler lifted their price target on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of Hawaii from $67.00 to $74.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Finally, DA Davidson lifted 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 equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.