Bank of Hawaii Co. (NYSE:BOH) sees strong short-term interest growth


Bank of Hawaii Co. (NYSE:BOH – Get Rating) was the target of a surge in short-term interest during May. As of May 31, there was short interest totaling 1,990,000 shares, an increase of 27.6% from the May 15 total of 1,560,000 shares. Approximately 5.0% of the company’s shares are sold short. Based on an average trading volume of 210,300 shares, the short interest ratio is currently 9.5 days.

Separately, moved Bank of Hawaii shares from a “hold” rating to a “sell” rating in a Monday, May 23 research report.

In other Bank of Hawaii news, CEO Peter S. Ho sold 5,500 shares of the company in a trade on Tuesday, May 10. The shares were sold at an average price of $74.51, for a total value of $409,805.00. Following the sale, the CEO now owns 244,681 shares of the company, valued at approximately $18,231,181.31. The sale was disclosed in a legal filing with the SEC, which is available via this hyperlink. 2.06% of the shares are held by insiders of the company.

A number of institutional investors have recently shifted their BOH holdings. Norges Bank bought a new position in Bank of Hawaii in the fourth quarter for a value of approximately $28,375,000. State Street Corp increased its stake in shares of Bank of Hawaii by 10.9% in the first quarter. State Street Corp now owns 1,777,119 shares of the bank worth $149,136,000 after acquiring an additional 174,889 shares during the period. Grandeur Peak Global Advisors LLC increased its stake in Bank of Hawaii shares by 175.2% in the first quarter. Grandeur Peak Global Advisors LLC now owns 191,968 shares of the bank worth $16,110,000 after acquiring an additional 122,215 shares during the period. Country Club Bank GFN purchased a new stake in shares of Bank of Hawaii in the first quarter for a value of approximately $10,039,000. Finally, Northern Trust Corp increased its stake in Bank of Hawaii shares by 25.8% in the first quarter. Northern Trust Corp now owns 447,658 shares of the bank worth $37,568,000 after acquiring an additional 91,791 shares during the period. 71.07% of the shares are held by institutional investors and hedge funds.

NYSE BOH traded at $1.98 during Thursday trading hours, hitting $71.42. 4,634 shares of the company were traded, compared to its average volume of 199,301. Bank of Hawaii has a 52-week low of $72.87 and a 52-week high of $92.38. The company has a market capitalization of $2.88 billion, a PE ratio of 11.77, a PEG ratio of 1.69 and a beta of 1.15. The company has a 50-day simple moving average of $77.17 and a 200-day simple moving average of $82.42.

Bank of Hawaii (NYSE:BOH – Get Rating) last released its quarterly results on Monday, April 25. The bank reported earnings per share (EPS) of $1.32 for the quarter, beating consensus analyst estimates of $1.22 by $0.10. The company posted revenue of $168.81 million in the quarter, compared to $169.30 million expected by analysts. Bank of Hawaii had a net margin of 35.44% and a return on equity of 17.99%. During the same period last year, the company posted EPS of $1.50. As a group, research analysts expect Bank of Hawaii to post earnings per share of 5.55 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 14. Shareholders of record on Tuesday, May 31 received a dividend of $0.70. The ex-dividend date was Friday, May 27. This represents an annualized dividend of $2.80 and a yield of 3.92%. Bank of Hawaii’s dividend payout ratio (DPR) is currently 46.13%.

About Bank of Hawaii (Get an evaluation)

Bank of Hawaii Corporation operates as a bank holding company for Bank of Hawaii which 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 Others. The Consumer Banking segment offers checking, savings and term deposit accounts; residential mortgages, home equity lines of credit, auto loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards; banking, investment, credit and trust services to private and international clients to individuals and families, and high net worth individuals; investment management; institutional investment advisory services to corporations, government entities and foundations; and brokerage offerings, including stocks, mutual funds, life insurance and annuity products.

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