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

Bank of Hawaii Co. (NYSE:BOH) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.70 per share by the bank on Friday, March 14th. This represents a $2.80 annualized dividend and a yield of 3.72%. The ex-dividend date is Friday, February 28th.

Bank of Hawaii has raised its dividend by an average of 0.7% annually over the last three years. Bank of Hawaii has a dividend payout ratio of 62.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.6 %

Shares of BOH stock traded up $1.20 during trading hours on Tuesday, reaching $75.35. The company had a trading volume of 700,243 shares, compared to its average volume of 459,174. The business has a fifty day simple moving average of $73.33 and a 200-day simple moving average of $69.26. Bank of Hawaii has a 12 month low of $54.50 and a 12 month high of $82.70. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 22.63 and a beta of 1.05. 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 (NYSE:BOH) last announced its earnings results on Monday, January 27th. The bank reported $0.85 EPS 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, research analysts expect that Bank of Hawaii will post 3.54 earnings per share for the current fiscal year.

Insider Activity 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. 2.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BOH. DA Davidson raised their target price on shares of Bank of Hawaii from $75.00 to $79.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays increased 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 stock a “market perform” rating in a research note on Wednesday, December 4th. Stephens assumed coverage on Bank of Hawaii in a research report on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 target price for the company. Finally, Piper Sandler lifted their price target on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Tuesday. Three research 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.