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

Bank of Hawaii Co. (NYSE:BOH) announced 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 is Friday, February 28th.

Bank of Hawaii has increased its dividend payment by an average of 0.7% annually over the last three years. Bank of Hawaii has a dividend payout ratio of 62.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 1.6 %

NYSE BOH opened at $75.35 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.71 and a current ratio of 0.71. Bank of Hawaii has a fifty-two week low of $54.50 and a fifty-two week high of $82.70. The stock has a market cap of $3.00 billion, a P/E ratio of 22.63 and a beta of 1.05. The stock has a 50 day simple moving average of $73.30 and a two-hundred day simple moving average of $69.36.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, January 27th. The bank reported $0.85 earnings per share 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%. On average, analysts forecast that Bank of Hawaii will post 3.54 earnings per share for the current year.

Wall Street Analyst Weigh In

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