Bank of Hawaii Co. (NYSE:BOH) Announces $0.70 Quarterly Dividend

Bank of Hawaii Co. (NYSE:BOH) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Friday, February 28th will be given a dividend of 0.70 per share by the bank on Friday, March 14th. This represents a $2.80 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, February 28th.

Bank of Hawaii has raised its dividend payment by an average of 0.7% per year over the last three years. Bank of Hawaii has a payout ratio of 62.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of Hawaii to earn $3.50 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 80.0%.

Bank of Hawaii Stock Up 1.6 %

NYSE BOH traded up $1.20 on Tuesday, hitting $75.35. The stock had a trading volume of 700,243 shares, compared to its average volume of 459,174. Bank of Hawaii has a 52-week low of $54.50 and a 52-week high of $82.70. The business’s fifty day moving average price is $73.33 and its 200 day moving average price is $69.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 22.63 and a beta of 1.05.

Bank of Hawaii (NYSE:BOH) last announced its earnings results on Monday, January 27th. The bank reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.02). Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. Equities research analysts anticipate that Bank of Hawaii will post 3.54 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Matthew Emerson sold 1,355 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $72.27, for a total transaction of $97,925.85. Following the sale, the insider now directly owns 13,717 shares of the company’s stock, valued at $991,327.59. This represents a 8.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BOH has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods raised their target price on Bank of Hawaii from $74.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson increased their price objective on Bank of Hawaii from $75.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays lifted their target price on Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Finally, Stephens started coverage on shares of Bank of Hawaii in a report on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.00.

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.