Short Interest in Bank of Hawaii Co. (NYSE:BOH) Drops By 8.7%

Bank of Hawaii Co. (NYSE:BOH) was the target of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 4,620,000 shares, a drop of 8.7% from the July 31st total of 5,060,000 shares. Based on an average daily volume of 326,700 shares, the short-interest ratio is presently 14.1 days. Currently, 11.9% of the company’s shares are sold short.

Bank of Hawaii Stock Performance

Shares of NYSE BOH traded down $0.78 during midday trading on Tuesday, reaching $65.59. The company had a trading volume of 21,849 shares, compared to its average volume of 316,172. The stock has a market cap of $2.61 billion, a P/E ratio of 17.11 and a beta of 1.06. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. Bank of Hawaii has a 1 year low of $45.56 and a 1 year high of $75.19. The business’s 50-day simple moving average is $63.77 and its 200 day simple moving average is $60.76.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $255.62 million for the quarter, compared to analyst estimates of $157.12 million. Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. During the same period in the prior year, the firm posted $1.12 EPS. On average, analysts forecast that Bank of Hawaii will post 3.45 earnings per share for the current fiscal year.

Bank of Hawaii Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, August 30th. Bank of Hawaii’s dividend payout ratio (DPR) is currently 72.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. DA Davidson boosted their price target on shares of Bank of Hawaii from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods increased their target price on shares of Bank of Hawaii from $58.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, July 23rd. StockNews.com raised shares of Bank of Hawaii to a “sell” rating in a report on Thursday, May 30th. Piper Sandler lowered Bank of Hawaii from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $70.00 to $61.00 in a report on Monday, August 12th. Finally, Jefferies Financial Group raised their price objective on Bank of Hawaii from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $59.00.

Insiders Place Their Bets

In other news, insider Taryn L. Salmon sold 2,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $67.80, for a total transaction of $160,279.20. Following the completion of the sale, the insider now directly owns 10,785 shares of the company’s stock, valued at $731,223. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.11% of the stock is owned by insiders.

Institutional Trading of Bank of Hawaii

A number of hedge funds and other institutional investors have recently made changes to their positions in BOH. GAMMA Investing LLC acquired a new position in Bank of Hawaii in the fourth quarter valued at approximately $41,000. Quest Partners LLC purchased a new position in shares of Bank of Hawaii during the 4th quarter valued at approximately $41,000. 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 acquired a new stake in Bank of Hawaii during the second quarter valued at $119,000. Finally, Rothschild Investment LLC purchased a new position in Bank of Hawaii in the second quarter valued at $172,000. Institutional investors and hedge funds own 82.18% of the company’s stock.

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.