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 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, November 29th.

Bank of Hawaii has raised its dividend payment by an average of 1.5% annually over the last three years. Bank of Hawaii has a dividend 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 tumble. Equities 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

NYSE:BOH opened at $80.35 on Thursday. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 5.24 and a beta of 1.03. The business has a 50 day moving average of $69.79 and a 200 day moving average of $64.54. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. Bank of Hawaii has a 1-year low of $54.50 and a 1-year high of $82.70.

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

Insider Activity at Bank of Hawaii

In related news, insider Matthew Emerson sold 1,355 shares of Bank of Hawaii 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 sale, the insider now directly owns 13,717 shares in the company, valued at $991,327.59. The trade was a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. 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 for the company. Barclays raised their price target on Bank of Hawaii from $50.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on Bank of Hawaii from $67.00 to $74.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Piper Sandler raised their target price on shares of Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. Finally, DA Davidson lifted their target price on shares of Bank of Hawaii from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of Hawaii currently has a consensus 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.