Bank of Hawaii Co. (BOH) to Issue Quarterly Dividend of $0.70 on June 13th

Bank of Hawaii Co. (NYSE:BOH) announced a quarterly dividend on Tuesday, April 22nd, Wall Street Journal reports. Investors of record on Friday, May 30th will be paid a dividend of 0.70 per share by the bank on Friday, June 13th. This represents a $2.80 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Friday, May 30th.

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 58.9% 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

NYSE BOH opened at $66.50 on Thursday. The company’s fifty day moving average is $67.51 and its two-hundred day moving average is $70.88. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 19.22 and a beta of 0.87. Bank of Hawaii has a 52-week low of $54.50 and a 52-week high of $82.70.

Bank of Hawaii (NYSE:BOH) last announced its quarterly earnings data on Monday, April 21st. The bank reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $169.87 million during the quarter, compared to analysts’ expectations of $168.65 million. Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. During the same period in the previous year, the business posted $0.87 EPS. Equities research analysts forecast that Bank of Hawaii will post 3.97 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Piper Sandler upped their price objective on Bank of Hawaii from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Tuesday, January 28th. Barclays raised their price objective on Bank of Hawaii from $64.00 to $67.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, DA Davidson raised their price objective on Bank of Hawaii from $75.00 to $79.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Bank of Hawaii currently has a consensus rating of “Hold” and an average price target of $73.17.

Insider Transactions at Bank of Hawaii

In other Bank of Hawaii news, CAO Patrick M. Mcguirk sold 2,000 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $75.08, for a total transaction of $150,160.00. Following the transaction, the chief accounting officer now directly owns 9,173 shares of the company’s stock, valued at $688,708.84. This trade represents a 17.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Taryn L. Salmon sold 449 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $74.97, for a total value of $33,661.53. Following the completion of the sale, the insider now owns 9,880 shares of the company’s stock, valued at $740,703.60. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.07% of the company’s stock.

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.