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

Bank of Hawaii Co. (NYSE:BOH) declared a quarterly dividend on Monday, October 28th,Wall Street Journal reports. Stockholders 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 dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, November 29th.

Bank of Hawaii has increased its dividend payment by an average of 1.5% annually over the last three years. Bank of Hawaii has a payout ratio of 76.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 Stock Performance

Bank of Hawaii stock opened at $79.81 on Wednesday. Bank of Hawaii has a 12-month low of $54.50 and a 12-month high of $82.70. 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 company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 5.29 and a beta of 1.03. The firm’s fifty day moving average price is $69.50 and its 200 day moving average price is $64.40.

Bank of Hawaii (NYSE:BOH) last announced its earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. The business had revenue of $265.76 million for the quarter, compared to analyst estimates of $160.29 million. During the same period in the previous year, the company earned $1.17 earnings per share. On average, research analysts forecast that Bank of Hawaii will post 3.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, insider Matthew Emerson sold 1,355 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $72.27, for a total transaction of $97,925.85. Following the completion of the transaction, the insider now directly owns 13,717 shares of the company’s stock, valued at approximately $991,327.59. This represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.47% of the stock is owned by company insiders.

Bank of Hawaii Company Profile

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.