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

Bank of Hawaii Co. (NYSE:BOH) announced a quarterly dividend on Monday, January 27th, 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 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Friday, February 28th.

Bank of Hawaii has raised its dividend by an average of 0.7% per year 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. Equities research 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 Performance

Shares of Bank of Hawaii stock opened at $70.93 on Wednesday. Bank of Hawaii has a 52 week low of $54.50 and a 52 week high of $82.70. The company has a market capitalization of $2.82 billion, a PE ratio of 20.50 and a beta of 1.04. The stock’s fifty day moving average is $71.78 and its two-hundred day moving average is $70.32. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.02). Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. As a group, analysts expect that Bank of Hawaii will post 3.97 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted 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. Stephens began coverage on Bank of Hawaii in a report on Wednesday, November 27th. They issued an “overweight” rating and a $90.00 target price for the company. Piper Sandler increased their price target on Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 28th. Barclays lifted their price objective on Bank of Hawaii from $56.00 to $66.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Finally, DA Davidson upped their price objective on shares of Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Bank of Hawaii has an average rating of “Hold” and an average price target of $73.00.

Insider Buying and Selling at Bank of Hawaii

In other news, CAO Patrick M. Mcguirk sold 2,000 shares of Bank of Hawaii stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $75.08, for a total value of $150,160.00. Following the transaction, the chief accounting officer now owns 9,173 shares of the company’s stock, valued at $688,708.84. The trade was a 17.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Taryn L. Salmon sold 449 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $74.97, for a total transaction of $33,661.53. Following the sale, 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 position. The disclosure for this sale can be found here. 2.47% of the stock is owned by insiders.

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.