Bank of Hawaii Co. (NYSE: BOH – Get a rating) was the target of a sharp increase in short interest during the month of 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, StockNews.com cut 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 a 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 a rating)

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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