Bank of Hawaii Co. (NYSE:BOH) Sees Large Drop in Short Interest

Bank of Hawaii Co. (NYSE:BOHGet Free Report) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 5,490,000 shares, a decrease of 6.8% from the February 29th total of 5,890,000 shares. Based on an average daily volume of 347,200 shares, the short-interest ratio is presently 15.8 days. Currently, 14.1% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of Bank of Hawaii from $57.00 to $55.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 23rd. TheStreet upgraded shares of Bank of Hawaii from a “c+” rating to a “b-” rating in a research report on Friday, December 8th. Barclays initiated coverage on shares of Bank of Hawaii in a research report on Friday, March 8th. They issued an “underweight” rating and a $51.00 price target on the stock. StockNews.com upgraded shares of Bank of Hawaii to a “sell” rating in a research report on Thursday, January 25th. Finally, Piper Sandler cut their price target on shares of Bank of Hawaii from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. Based on data from MarketBeat, Bank of Hawaii currently has an average rating of “Reduce” and an average price target of $51.60.

Read Our Latest Analysis on Bank of Hawaii

Bank of Hawaii Price Performance

NYSE BOH opened at $59.88 on Wednesday. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 2.06 and a beta of 1.06. Bank of Hawaii has a 52-week low of $30.83 and a 52-week high of $75.19. The business has a 50 day simple moving average of $61.59 and a 200 day simple moving average of $59.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of Hawaii (NYSE:BOHGet Free Report) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. The company had revenue of $252.63 million during the quarter, compared to analysts’ expectations of $161.03 million. Bank of Hawaii had a net margin of 17.35% and a return on equity of 14.35%. During the same period last year, the business earned $1.50 EPS. Analysts anticipate that Bank of Hawaii will post 3.7 earnings per share for the current fiscal year.

Bank of Hawaii Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.80 annualized dividend and a dividend yield of 4.68%. Bank of Hawaii’s dividend payout ratio is currently 67.47%.

Hedge Funds Weigh In On Bank of Hawaii

Several hedge funds and other institutional investors have recently made changes to their positions in BOH. JPMorgan Chase & Co. grew its stake in shares of Bank of Hawaii by 5.8% in the first quarter. JPMorgan Chase & Co. now owns 70,245 shares of the bank’s stock valued at $5,895,000 after buying an additional 3,843 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Bank of Hawaii by 15.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,739 shares of the bank’s stock valued at $1,322,000 after buying an additional 2,093 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Bank of Hawaii by 43.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,531 shares of the bank’s stock valued at $1,219,000 after buying an additional 4,423 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Bank of Hawaii by 6.1% in the first quarter. Private Advisor Group LLC now owns 8,757 shares of the bank’s stock valued at $735,000 after buying an additional 501 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Bank of Hawaii by 32.7% in the first quarter. MetLife Investment Management LLC now owns 26,023 shares of the bank’s stock valued at $2,184,000 after buying an additional 6,407 shares in the last quarter. 82.18% of the stock is owned by institutional investors.

About Bank of Hawaii

(Get Free Report)

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.

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