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

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 given 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 yield of 3.48%. The ex-dividend date of this dividend is Friday, November 29th.

Bank of Hawaii has raised its dividend by an average of 1.5% per year over the last three years. Bank of Hawaii has a dividend payout ratio of 76.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Bank of Hawaii to earn $3.46 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 80.9%.

Bank of Hawaii Trading Up 0.7 %

Bank of Hawaii stock opened at $80.35 on Thursday. Bank of Hawaii has a 12 month low of $54.50 and a 12 month high of $82.70. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 5.24 and a beta of 1.03. The business’s fifty day simple moving average is $69.79 and its two-hundred day simple moving average is $64.54. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.93 EPS for the quarter, beating the consensus estimate of $0.82 by $0.11. The company had revenue of $265.76 million for the quarter, compared to the consensus estimate of $160.29 million. Bank of Hawaii had a net margin of 13.76% and a return on equity of 11.33%. During the same period in the prior year, the firm posted $1.17 EPS. As a group, equities analysts predict that Bank of Hawaii will post 3.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Bank of Hawaii

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BOH. DA Davidson raised their price target on shares of Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Piper Sandler boosted their price target on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Barclays upped their price target on Bank of Hawaii from $50.00 to $56.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Stephens assumed coverage on Bank of Hawaii in a report on Wednesday. They issued an “overweight” rating and a $90.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bank of Hawaii from $67.00 to $74.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.00.

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.