Bank of Hawaii Co. (NYSE: BOH – get rating) was the target of strong growth in short interest in August. As of August 31, there was short interest on a total of 2,050,000 shares, a growth of 10.8% from the August 15 total of 1,850,000 shares. Based on an average daily trading volume of 168,000 shares, the short-term interest rate is currently 12.2 days. Currently, 5.2% of the shares of the stock are sold short.
Insiders place their bets
In related news, CEO Peter S. Ho sold 5,500 shares of Bank of Hawaii in a transaction dated Wednesday, August 10. 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 CEO now directly owns 239,181 shares of the company, valued at approximately $19,533,912.27. The transaction was disclosed in a filing with the SEC, which is available via the SEC website. Corporate insiders own 2.06% of the company’s shares.
Institutional entrances and exits
Large investors have recently changed their holdings 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 during the last quarter. State Street Corp increased its holdings in Bank of Hawaii stock by 10.9% in the first quarter. State Street Corp now owns 1,777,119 shares of the bank valued at $149,136,000 after purchasing an additional 174,889 shares last quarter. Grandeur Peak Global Advisors LLC increased its holdings in Bank of Hawaii stock by 175.2% in the first quarter. Grandeur Peak Global Advisors LLC now owns 191,968 shares of the bank valued at $16,110,000 after purchasing an additional 122,215 shares during the last quarter. Country Club Bank GFN purchased a new share of Bank of Hawaii stock in the first quarter valued at $10,039,000. Lastly, Northern Trust Corp increased its holdings in Bank of Hawaii stock by 25.8% in the first quarter. Northern Trust Corp now owns 447,658 shares of the bank valued at $37,568,000 after purchasing an additional 91,791 shares last quarter. Institutional investors own 74.84% of the company’s shares.
Bank of Hawaii trades up to 1.4%
BOH rose $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 minimum of $70.89 and a one year maximum 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/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 25. The bank reported earnings per share of $1.38 for the quarter, beating analyst 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 company posted earnings per share of $1.68. As a group, stock research analysts expect Bank of Hawaii to post earnings per share of 5.64 for the current year.
Bank of Hawaii announces dividend
The firm 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 of this dividend 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 promotions and demotions
Several stock analysts recently commented on the stock. Jefferies Financial Group lowered its price target on Bank of Hawaii stock from $87.00 to $79.00 in a research note on Monday, July 11. StockNews.com downgraded shares of Bank of Hawaii from a “hold” rating to a “sell” rating in a report on Tuesday, September 13.
Bank of Hawaii Company Profile
Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii offering 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 fixed-term accounts; residential mortgage loans, home equity lines of credit, auto loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards; international and private client banking, investment, credit and trust services for individuals and families, and high net worth individuals; investment Management; institutional investment advisory services for corporations, government entities and foundations; and brokerage offerings, including stocks, mutual funds, life insurance and annuity products.
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