Bank of Hawaii Co. (NYSE: BOH) brief rate update
The Bank of Hawaii Co. (NYSE:BOH – Get Rating) was the target of a sharp rise in short-term interest rates in August. As of August 31, there was short interest totaling 2,050,000 shares, a 10.8% increase from the August 15 total of 1,850,000 shares. Based on an average daily trading volume of 168,000 shares, the short interest rate ratio is currently 12.2 days. Currently, 5.2% of the stock’s shares are short.
Insiders place their bets
In related news, CEO Peter S. Ho sold 5,500 shares of Bank of Hawaii stock in a transaction on Wednesday, August 10. The shares sold at an average price of $81.67 for a total transaction of $449,185.00. Upon completion of the transaction, the Chief Executive Officer 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 through the SEC’s website. Company insiders own 2.06% of the company’s shares.
Institutional inflows and outflows
Major investors recently changed their stakes in the company. Victory Capital Management Inc. increased its position in Bank of Hawaii by 39.8% in the second quarter. Victory Capital Management Inc. now owns 2,167,240 shares of the bank valued at $161,242,000 after purchasing an additional 617,432 shares last quarter. State Street Corp increased its holdings of 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 holding in Bank of Hawaii stock by 175.2% during 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 last quarter. Country Club Bank GFN acquired a new stake in Bank of Hawaii stock valued at $10,039,000 during the first quarter. Finally, Northern Trust Corp increased its holdings of Bank of Hawaii stock by 25.8% during 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 trading up 1.4%
BOH rose $1.13 on Monday to hit $80.50. 143,208 shares of the company were traded, compared to an average volume of 188,264. The Bank of Hawaii has a yearly low of $70.89 and a yearly high of $92.38. The company has a 50-day simple moving average of $79.07 and a 200-day simple moving average of $78.71. The company has a market cap of $3.23 billion, a P/E of 13.95, a price-to-earnings-to-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.
The Bank of Hawaii (NYSE:BOH – Get Rating) last announced its quarterly earnings data on Monday, July 25th. The bank reported earnings per share of $1.38 for the quarter, beating analysts’ consensus estimate of $1.35 by $0.03. Bank of Hawaii had a net margin of 33.63% and a return on equity of 17.98%. In the same quarter last year, the company reported earnings per share of $1.68. As a group, equities analysts expect Bank of Hawaii to report year-to-date earnings per share of 5.64.
Bank of Hawaii announces dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. A dividend of $0.70 was paid to shareholders of record on Wednesday, August 31st. The ex-dividend date of this dividend was Tuesday August 30th. That equates to an annualized dividend of $2.80 and a dividend yield of 3.48%. Bank of Hawaii’s payout ratio is currently 48.53%.
Analyst upgrades and downgrades
A number of equity analysts recently commented on the stock. Jefferies Financial Group lowered its target price on Bank of Hawaii shares 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 Tuesday, September 13.
Bank of Hawaii Company Profile
Bank of Hawaii Corporation acts as the bank holding company for Bank of Hawaii, which provides various financial products and services in Hawaii, Guam and other Pacific Islands. It operates through three segments: Consumer Banking, Commercial Banking, and Treasury and Other. The Consumer Banking segment offers current, savings and time deposit 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; banking for private and international customers, investment, credit and trustee services for individuals and families and high net worth individuals; investment management; institutional investment advice for corporations, government agencies and foundations; and brokerage offerings, including stocks, mutual funds, life insurance, and annuity products.
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