Bank of Hawaii Co. (NYSE:BOH) Short Interest Down 5.5% in October

Bank of Hawaii Co. (NYSE:BOH) 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. Approximately 10.7% of the company’s shares are sold short. Based on an average daily volume of 326,900 shares, the days-to-cover ratio is currently 12.7 days.

Insider Buying and Selling

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the company’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 transaction, the insider now owns 13,717 shares of the company’s stock, valued at $991,327.59. This represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.47% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BOH. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Bank of Hawaii in the 2nd quarter valued at approximately $106,000. Point72 DIFC Ltd purchased a new position in Bank of Hawaii in the second quarter valued at $119,000. UMB Bank n.a. raised its stake 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 valued at $169,000 after buying an additional 2,644 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Bank of Hawaii in the second quarter valued at $172,000. Finally, Bridges Investment Management Inc. purchased a new stake in Bank of Hawaii during the 2nd quarter worth about $205,000. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Wall Street Analyst Weigh In

BOH has been the subject of a number of research analyst reports. DA Davidson increased their price objective 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. Keefe, Bruyette & Woods upped their price target on Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Barclays lifted their price objective on Bank of Hawaii from $50.00 to $56.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler increased their target price 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. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.80.

Bank of Hawaii Stock Performance

NYSE:BOH opened at $77.59 on Monday. Bank of Hawaii has a 52 week low of $54.50 and a 52 week high of $81.45. The company has a fifty day simple moving average of $67.74 and a two-hundred day simple moving average of $63.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 5.10 and a beta of 1.03.

Bank of Hawaii (NYSE:BOH) last released its 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 firm had revenue of $265.76 million during the quarter, compared to analysts’ expectations of $160.29 million. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. During the same period in the previous year, the firm posted $1.17 EPS. As a group, equities analysts anticipate that Bank of Hawaii will post 3.52 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.61%. Bank of Hawaii’s payout ratio is 84.08%.

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.