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

Bank of Hawaii Co. (NYSE:BOH) declared a quarterly dividend on Tuesday, October 29th, Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid 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 3.81%. The ex-dividend date of this dividend is Friday, November 29th.

Bank of Hawaii has increased its dividend by an average of 1.5% annually over the last three years. Bank of Hawaii has a payout ratio of 81.9% indicating that 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 $3.28 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 85.4%.

Bank of Hawaii Stock Performance

Shares of Bank of Hawaii stock traded up $0.72 during trading on Wednesday, hitting $73.51. 16,970 shares of the stock were exchanged, compared to its average volume of 318,573. The stock’s fifty day moving average is $65.15 and its 200 day moving average is $61.92. Bank of Hawaii has a 12 month low of $48.83 and a 12 month high of $75.19. The stock has a market cap of $2.92 billion, a PE ratio of 21.86, a P/E/G ratio of 7.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. The company had revenue of $265.76 million for the quarter, compared to analyst estimates of $160.29 million. During the same period last year, the company earned $1.17 earnings per share. As a group, sell-side analysts anticipate that Bank of Hawaii will post 3.4 EPS for the current year.

Wall Street Analyst Weigh In

BOH has been the subject of a number of research reports. Piper Sandler increased their price target on Bank of Hawaii from $61.00 to $66.00 and gave the company an “underweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted 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 research note on Tuesday. Barclays increased their target price on shares of Bank of Hawaii from $50.00 to $56.00 and gave the company an “underweight” rating in a research note on Tuesday. Jefferies Financial Group lifted their price target on shares of Bank of Hawaii from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, DA Davidson upped their price target on Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.80.

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.