Below is the pricing detail on the new issue announced last night. The yield is juicy but the banking company has some potential issues with commercial (CRE) real estate–please do your due diligence before investing.
A complete credit analysis can be found on Morningstar at this link— FREE account is required.
The pricing term sheet is here.
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Trading at $25.15 with over 625,000 shares traded
I’ll have to review the common first. It’ll go to 26 quickly without anything bad happening in the regional bank market
14% of common shares are short. Which is way high.
I would imagine a lot of that shorting took place after the fires on top of the pessimism surrounding banks/CRE. From what I see on fintel the amount shorted has been slowly going back to normal but still high.
Interesting but my end of quarter money is all going toward dividend captures.
So what’s the consensus. ? Hawaii prices are insane and the residents have money but the bank is supposedly losing money. Hard to turn down 8% qualified for a bank unless they are on deaths door.
I will buy a tiny sliver if the price is right. It still is investment grade by Moodys and DBRS.
wasn’t it exposed to the fire lawsuit through the ute?
As soon as I read the news I sold 340 shares of BOH-A and plan to replace them with BOHDL. My order is open at Ally and just sitting there for 200 shares of the new preferred. That is what I am doing. Just swapping things around.
Sigh. I called Ally back. My order is sitting here not getting any fills. It is being routed to StoneX. https://www.stonex.com/sales-and-trading/equities/market-making/
Obviously this is not the superior routing setup for buying preferred early. Anyone have a guess why they are unable to get me a fill via Ally?
are you bidding the ask? I just got filled on Fidelity at $25.19.
It has been sitting at 25.20 all day today.
Ughhh, fire Ally!
I am getting close and closer to that point. There one redeeming quality is that I cannot recall ever getting charged a single penny for buying/selling. Even odd stuff.
I was also told by the phone rep that routing to StoneX also had some type of label called INTL which I assume means international.. but I have no clue if that means diddly squat. StoneX was the answer for who it was being routed to for the market maker. I doubt INTL means some special path which is international (other country equities). They have this blurb on their website: “As the #1 market maker in OTC ADRs and foreign securities, we leverage our expertise to open markets and provide the liquidity you need.” But right below that they state they also do our more traditional markets and OTC.
In the end I think the difference between being on the grey yesterday and today on the pink might be the difference in buying for me. I was able to purchase shares this morning. A few cents below where I was willing to buy yesterday which is a nice turn of events for once.
Same here, although I had to ‘adjust’ my limit price to 25.20 to get filled at 25.19 🙄
Quite a change in coupon from BOH-A
Will be interesting to see how this one trades.
Hi Tim
Is it possible that BB list is not up to date?
Missing NEWTG for example
Thanks for the good work
Flanders—I’m always a little slow–will get this one there. Thanks
Thanks, Tim. Has anyone been able to buy shares?
Market Closed – Juneteenth today
BOHDL opens above issue price
https://www.otcmarkets.com/stock/BOHDL/quote
I was able to get a bit with this ticker via FIDO but no go with Schwab.
I can see an ability to buy via TOS at Schwab but with a commission……..
I see this now too, $6.95 OTC fee
Yield Hunter:
When I try and buy it for $25.13 on the Schwab website, I get the silly message that BOHDL is accepting closing transactions only.
When I try and buy it on StreetSmart Edge, I get the same ridiculous message.
And when I try and but it with Think or Swim, they charge $6.95 commission.
How did a company that should pride itself on superior trading technology become so bad? I really don’t know how anyone can own the common stock of SCHW.
OTC stocks have become the redheaded orphans on major brokerages they all charge fees or refuse the transaction. Don’t know if their expenses are higher, is it to benefit the sharks or it’s just to keep their work simple.