Bank of Hawaii Co. (NYSE:BOH) Sees Large Drop in Short Interest

Bank of Hawaii Co. (NYSE:BOH - Get Free Report) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 4,160,000 shares, a drop of 5.5% from the October 15th total of 4,400,000 shares. Currently, 10.7% of the shares of the stock are sold short. Based on an average daily volume of 326,900 shares, the short-interest ratio is currently 12.7 days.

Bank of Hawaii Trading Down 0.5 %

Shares of NYSE:BOH traded down $0.39 during trading on Monday, hitting $77.21. 243,766 shares of the company's stock were exchanged, compared to its average volume of 322,975. Bank of Hawaii has a 1-year low of $54.50 and a 1-year high of $81.45. The firm has a 50-day moving average price of $68.02 and a two-hundred day moving average price of $63.72. 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 firm has a market cap of $3.07 billion, a P/E ratio of 23.18, a PEG ratio of 5.10 and a beta of 1.03.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. The company had revenue of $265.76 million during the quarter, compared to analysts' expectations of $160.29 million. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. During the same quarter in the previous year, the company earned $1.17 EPS. Equities analysts predict that Bank of Hawaii will post 3.52 earnings per share for the current year.

Bank of Hawaii Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Friday, November 29th. Bank of Hawaii's 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 the firm's stock in a transaction dated Wednesday, October 30th. The shares were 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 approximately $991,327.59. This trade represents a 8.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in Bank of Hawaii by 5.0% in the third quarter. State Street Corp now owns 2,244,649 shares of the bank's stock valued at $140,897,000 after buying an additional 106,717 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Bank of Hawaii by 13.1% in the second quarter. Victory Capital Management Inc. now owns 1,634,909 shares of the bank's stock worth $93,533,000 after purchasing an additional 189,878 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Bank of Hawaii by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,511,420 shares of the bank's stock worth $94,872,000 after purchasing an additional 35,187 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Bank of Hawaii by 1.2% in the third quarter. Geode Capital Management LLC now owns 908,303 shares of the bank's stock worth $57,025,000 after purchasing an additional 10,357 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Bank of Hawaii by 14.2% in the second quarter. Dimensional Fund Advisors LP now owns 789,486 shares of the bank's stock worth $45,167,000 after purchasing an additional 98,465 shares in the last quarter. Institutional investors own 82.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised 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 report on Tuesday, October 29th. Barclays raised their price objective on shares of Bank of Hawaii from $50.00 to $56.00 and gave the company an "underweight" rating in a research report on Tuesday, October 29th. DA Davidson raised their price objective on shares of Bank of Hawaii from $65.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Finally, Piper Sandler raised their price objective on shares of Bank of Hawaii from $61.00 to $66.00 and gave the company an "underweight" rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $64.80.

Bank of Hawaii Company Profile

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.