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

Bank of Hawaii Co. (NYSE:BOH) announced a quarterly dividend on Monday, July 22nd, Zacks reports. Investors of record on Friday, August 30th will be paid a dividend of 0.70 per share by the bank on Monday, September 16th. This represents a $2.80 annualized dividend and a yield of 4.17%. The ex-dividend date is Friday, August 30th.

Bank of Hawaii has increased its dividend payment by an average of 1.5% annually over the last three years. Bank of Hawaii has a payout ratio of 79.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Bank of Hawaii to earn $3.56 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 78.7%.

Bank of Hawaii Stock Performance

Shares of BOH stock opened at $67.07 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average price is $63.17 and its 200-day moving average price is $60.65. The stock has a market cap of $2.66 billion, a PE ratio of 17.29 and a beta of 1.06. Bank of Hawaii has a 12 month low of $45.56 and a 12 month high of $75.19.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Bank of Hawaii had a return on equity of 12.25% and a net margin of 14.54%. The business had revenue of $255.62 million during the quarter, compared to analysts’ expectations of $157.12 million. During the same quarter last year, the company posted $1.12 EPS. On average, equities analysts expect that Bank of Hawaii will post 3.42 EPS for the current fiscal year.

Insider Buying and Selling at Bank of Hawaii

In other news, insider Taryn L. Salmon sold 2,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $67.80, for a total transaction of $160,279.20. Following the completion of the sale, the insider now owns 10,785 shares of the company’s stock, valued at approximately $731,223. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. StockNews.com raised Bank of Hawaii to a “sell” rating in a report on Thursday, May 30th. Jefferies Financial Group upped 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 note on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Bank of Hawaii from $58.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, July 23rd. DA Davidson upped their target price on shares of Bank of Hawaii from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Piper Sandler downgraded shares of Bank of Hawaii from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $70.00 to $61.00 in a research report on Monday, August 12th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $59.00.

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.