Is Bank of Hawaii Corporation (BOH) a Good Stock to Buy?

Consequently, key hedge funds have jumped into Bank of Hawaii Corporation (NYSE:BOH) headfirst. Folger Hill Asset Management, led by Solomon Kumin, created the most valuable position in Bank of Hawaii Corporation (NYSE:BOH). Folger Hill Asset Management had $0.7 million invested in the company at the end of the quarter. James Dondero’s Highland Capital Management also initiated a $0.4 million position during the quarter. The following funds were also among the new BOH investors: Paul Tudor Jones’s Tudor Investment Corp and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Bank of Hawaii Corporation (NYSE:BOH) but similarly valued. We will take a look at Avis Budget Group Inc. (NASDAQ:CAR), Integrated Device Technology, Inc. (NASDAQ:IDTI), NRG Yield, Inc. Class C (NYSE:NYLD), and Laredo Petroleum Holdings Inc (NYSE:LPI). All of these stocks’ market caps are closest to BOH’s market cap.

As you can see these stocks had an average of 26 funds with bullish positions and the average amount invested in these stocks was $516 million. That figure was $50 million in BOH’s case. Avis Budget Group Inc. (NASDAQ:CAR) is the most popular stock in this table. On the other hand Laredo Petroleum Holdings Inc (NYSE:LPI) is the least popular one with only 22 bullish hedge fund positions. Compared to these stocks Bank of Hawaii Corporation (NYSE:BOH) is even less popular than LPI. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: none