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

Bank of Hawaii Co. (NYSE:BOH) announced a quarterly dividend on Tuesday, October 29th, Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given 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% per year 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. Research 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 Up 1.0 %

Bank of Hawaii stock traded up $0.72 during midday trading on Wednesday, reaching $73.51. The company’s stock had a trading volume of 16,970 shares, compared to its average volume of 318,573. The business has a 50-day simple moving average of $65.15 and a 200-day simple moving average of $61.92. Bank of Hawaii has a fifty-two week low of $48.83 and a fifty-two week high of $75.19. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.44. The company has a market cap of $2.92 billion, a P/E ratio of 21.86, a P/E/G ratio of 7.30 and a beta of 1.05.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $265.76 million for the quarter, compared to analyst estimates of $160.29 million. Bank of Hawaii had a net margin of 14.54% and a return on equity of 12.25%. During the same period in the previous year, the business posted $1.17 earnings per share. On average, research analysts expect that Bank of Hawaii will post 3.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BOH has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on Bank of Hawaii from $61.00 to $66.00 and gave the stock an “underweight” rating in a research report on Tuesday. Barclays upped their target price on Bank of Hawaii from $50.00 to $56.00 and gave the company an “underweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their price objective on Bank of Hawaii from $67.00 to $74.00 and gave the stock a “market perform” rating in a report on Tuesday. DA Davidson raised their price target on shares of Bank of Hawaii from $65.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Jefferies Financial Group boosted their price target on Bank of Hawaii from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Bank of Hawaii presently has a consensus rating of “Hold” and an average target price of $64.80.

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.