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

Bank of Hawaii Corporation (NYSE:BOH) declared a quarterly dividend on Monday, July 27th. Shareholders of record on Monday, August 31st will be given a dividend of 0.70 per share by the bank on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, August 31st.

Bank of Hawaii has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Bank of Hawaii has a dividend payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank of Hawaii to earn $6.49 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 43.1%.

Bank of Hawaii Stock Performance

Shares of BOH traded down $3.98 during trading hours on Monday, reaching $79.99. 1,021,524 shares of the company traded hands, compared to its average volume of 422,873. The stock has a market capitalization of $3.17 billion, a P/E ratio of 16.16, a P/E/G ratio of 0.89 and a beta of 0.70. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.37. Bank of Hawaii has a 12-month low of $59.36 and a 12-month high of $86.31. The business has a fifty day moving average price of $80.09 and a 200-day moving average price of $77.28.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, July 27th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.01. The firm had revenue of $196.90 million for the quarter, compared to the consensus estimate of $199.51 million. Bank of Hawaii had a return on equity of 14.97% and a net margin of 20.46%.During the same period in the prior year, the firm earned $1.06 EPS. Equities analysts anticipate that Bank of Hawaii will post 5.89 EPS for the current fiscal year.

Institutional Trading of Bank of Hawaii

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management L.P. grew its stake in shares of Bank of Hawaii by 122.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,012,560 shares of the bank’s stock worth $66,464,000 after purchasing an additional 557,148 shares during the period. Deprince Race & Zollo Inc. purchased a new position in shares of Bank of Hawaii during the 1st quarter valued at approximately $34,385,000. Nuveen LLC lifted its stake in shares of Bank of Hawaii by 455.6% in the 4th quarter. Nuveen LLC now owns 491,187 shares of the bank’s stock valued at $33,582,000 after purchasing an additional 402,774 shares during the period. Bank of America Corp DE lifted its stake in shares of Bank of Hawaii by 254.4% in the 1st quarter. Bank of America Corp DE now owns 360,138 shares of the bank’s stock valued at $26,740,000 after purchasing an additional 258,508 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in Bank of Hawaii by 1,699.7% during the third quarter. Verition Fund Management LLC now owns 265,834 shares of the bank’s stock worth $17,449,000 after buying an additional 251,063 shares in the last quarter. 82.18% of the stock is owned by institutional investors and hedge funds.

Bank of Hawaii Company Profile

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.