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

Bank of Hawaii Co. (NYSE:BOH) was the recipient of a significant 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 presently 12.7 days. Currently, 10.7% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

BOH has been the subject of several recent analyst reports. DA Davidson upped their price objective on shares of Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Barclays upped their price target on shares of Bank of Hawaii from $50.00 to $56.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their price target on 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. Finally, Piper Sandler boosted their price objective on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.80.

Bank of Hawaii Stock Performance

NYSE BOH opened at $77.01 on Wednesday. The company’s fifty day moving average is $68.28 and its two-hundred day moving average is $63.85. Bank of Hawaii has a 52-week low of $54.50 and a 52-week high of $81.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 23.13, a P/E/G 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $265.76 million for the quarter, compared to the consensus estimate 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 last year, the business earned $1.17 earnings per share. Equities research analysts forecast that Bank of Hawaii will post 3.52 EPS for the current year.

Bank of Hawaii Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, November 29th. Bank of Hawaii’s payout ratio is currently 84.08%.

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii news, insider Matthew Emerson sold 1,355 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total transaction of $97,925.85. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.47% of the company’s stock.

Hedge Funds Weigh In On Bank of Hawaii

A number of institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Bank of Hawaii in the 2nd quarter valued at $106,000. Point72 DIFC Ltd bought a new stake in shares of Bank of Hawaii in the 2nd quarter valued at about $119,000. UMB Bank n.a. increased its holdings in shares of 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 purchasing an additional 2,644 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Bank of Hawaii during the 2nd quarter worth approximately $172,000. Finally, Bridges Investment Management Inc. acquired a new position in shares of Bank of Hawaii during the 2nd quarter worth approximately $205,000. 82.18% of the stock is owned by institutional investors.

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.