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| Snatch This Bargain 4.3% Yield Dividend Stock Even Cheaper Than Vice Chairman Biggs DidBy Dividend Channel Staff, Monday, November 21, 12:26 PM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on August 29, Bank of Hawaii Corp's Vice Chairman, Peter M Biggs, invested $32,344.00 into 800 shares of BOH, for a cost per share of $40.43. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Monday, bargain hunters could buy shares of Bank of Hawaii Corp (NYSE:BOH) and achieve a cost basis even cheaper than Biggs, with shares changing hands as low as $40.39 per share. Bank of Hawaii Corp shares are currently trading off about 4.2% on the day. The chart below shows the one year performance of BOH shares, versus its 200 day moving average:
Looking at the chart above, BOH's low point in its 52 week range is $34.50 per share, with $49.26 as the 52 week high point — that compares with a last trade of $40.47. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
The current annualized dividend paid by Bank of Hawaii Corp is $1.80/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 11/28/2011. Below is a long-term dividend history chart for BOH, which can be of good help in judging whether the most recent dividend with approx. 4.3% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, BOH makes up 2.70% of the SPDR S&P Bank ETF (AMEX:KBE) which is trading lower by about 3.2% on the day Monday. See what other ETFs contain BOH » BOH operates in the Banking & Savings sector, among companies like Valley National Bancorp (NYSE:VLY) which is off about 5.1% today, and City National Corp. (NYSE:CYN) trading lower by about 3.6%. Below is a three month price history chart comparing the stock performance of BOH, versus VLY and CYN.
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One Reason For Insiders to Buy
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