Bank of Hawaii Co. (BOH) to Issue Quarterly Dividend of $0.70 on March 14th

Bank of Hawaii Co. (NYSE:BOH) declared a quarterly dividend on Monday, January 27th, Wall Street Journal reports. Stockholders 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 dividend yield of 3.95%. The ex-dividend date of this dividend is Friday, February 28th.

Bank of Hawaii has increased its dividend by an average of 0.7% annually over the last three years. Bank of Hawaii has a dividend payout ratio of 58.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of Hawaii to earn $4.75 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 58.9%.

Bank of Hawaii Stock Up 1.0 %

Shares of BOH opened at $70.93 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 current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $2.82 billion, a PE ratio of 20.50 and a beta of 1.04. The business’s 50 day moving average is $71.78 and its 200 day moving average is $70.32.

Bank of Hawaii (NYSE:BOH) last released 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 return on equity of 11.81% and a net margin of 14.47%. Research analysts expect that Bank of Hawaii will post 3.97 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Patrick M. Mcguirk sold 2,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $75.08, for a total transaction of $150,160.00. Following the sale, the chief accounting officer now owns 9,173 shares in the company, valued at approximately $688,708.84. This represents a 17.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Taryn L. Salmon sold 449 shares of Bank of Hawaii stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $74.97, for a total transaction of $33,661.53. Following the transaction, the insider now directly owns 9,880 shares of the company’s stock, valued at $740,703.60. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on BOH. Piper Sandler increased their price objective on shares of Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods raised their price target on Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson lifted their price objective on Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. 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 report on Thursday, December 5th. Finally, Stephens initiated coverage on shares of Bank of Hawaii in a research report on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 price target on the stock. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.00.

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.