Bank of Hawaii Co. (BOH) To Go Ex-Dividend on November 29th

Bank of Hawaii Co. (NYSE:BOH) declared a quarterly dividend on Monday, October 28th, Wall Street Journal reports. Investors of record on Friday, November 29th will be paid a dividend of 0.70 per share by the bank on Friday, December 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, November 29th.

Bank of Hawaii has increased its dividend payment by an average of 1.5% per year over the last three years. Bank of Hawaii has a dividend payout ratio of 81.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Bank of Hawaii to earn $3.28 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 85.4%.

Bank of Hawaii Price Performance

Shares of NYSE:BOH traded down $0.54 during mid-day trading on Wednesday, reaching $72.25. The stock had a trading volume of 330,422 shares, compared to its average volume of 320,065. The business’s 50 day moving average price is $65.15 and its 200 day moving average price is $61.92. Bank of Hawaii has a 1 year low of $48.83 and a 1 year high of $75.19. The company has a market cap of $2.87 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 7.30 and a beta of 1.05. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings results on Monday, October 28th. The bank reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The firm had revenue of $265.76 million during the quarter, compared to the consensus estimate of $160.29 million. Bank of Hawaii had a net margin of 14.54% and a return on equity of 12.25%. During the same quarter last year, the firm earned $1.17 EPS. Research analysts expect that Bank of Hawaii will post 3.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BOH. Piper Sandler raised their price target on Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research note on Tuesday. Barclays upped their price target on shares of Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday. DA Davidson lifted their price objective on shares of Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday. Jefferies Financial Group increased their target price on Bank of Hawaii from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of Hawaii from $67.00 to $74.00 and gave the company a “market perform” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, Bank of Hawaii has a consensus rating of “Hold” and an average price target of $64.80.

About Bank of Hawaii

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.