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

Bank of Hawaii Corporation (NYSE:BOH) announced a quarterly dividend on Monday, July 28th, RTT News reports. Shareholders of record on Friday, August 29th will be given a dividend of 0.70 per share by the bank on Monday, September 15th. This represents a $2.80 annualized dividend and a yield of 4.27%.

Bank of Hawaii has a payout ratio of 54.3% meaning 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 Performance

Shares of NYSE BOH opened at $65.65 on Monday. The company has a 50 day simple moving average of $67.55 and a two-hundred day simple moving average of $68.53. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.06 and a beta of 0.77. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. Bank of Hawaii has a 12 month low of $57.44 and a 12 month high of $82.70.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data on Monday, July 28th. The bank reported $1.06 EPS for the quarter, beating the consensus estimate of $1.04 by $0.02. Bank of Hawaii had a net margin of 15.12% and a return on equity of 12.16%. As a group, analysts predict that Bank of Hawaii will post 3.97 earnings per share for the current year.

Institutional Investors Weigh In On Bank of Hawaii

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in shares of Bank of Hawaii by 177.5% in the first quarter. AQR Capital Management LLC now owns 23,818 shares of the bank’s stock valued at $1,617,000 after purchasing an additional 15,234 shares during the period. Intech Investment Management LLC boosted its stake in Bank of Hawaii by 35.8% during the first quarter. Intech Investment Management LLC now owns 19,808 shares of the bank’s stock worth $1,366,000 after buying an additional 5,227 shares during the period. Royal Bank of Canada boosted its stake in Bank of Hawaii by 16.4% during the first quarter. Royal Bank of Canada now owns 26,241 shares of the bank’s stock worth $1,808,000 after buying an additional 3,689 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Bank of Hawaii by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank’s stock worth $1,605,000 after buying an additional 1,027 shares during the period. Finally, Strs Ohio purchased a new position in Bank of Hawaii during the first quarter worth about $41,000. 82.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Barclays upped their price objective on shares of Bank of Hawaii from $67.00 to $68.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Bank of Hawaii presently has an average rating of “Hold” and a consensus target price of $77.20.

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.