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

Bank of Hawaii Co. (NYSE:BOH) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Friday, February 28th will be given a dividend of 0.70 per share by the bank on Friday, March 14th. This represents a $2.80 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Friday, February 28th.

Bank of Hawaii has increased its dividend payment by an average of 0.7% annually over the last three years. Bank of Hawaii has a dividend payout ratio of 62.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of Hawaii to earn $3.50 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 80.0%.

Bank of Hawaii Price Performance

Shares of NYSE BOH opened at $75.35 on Wednesday. The firm has a market capitalization of $3.00 billion, a P/E ratio of 22.63 and a beta of 1.05. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.42. The stock’s 50-day simple moving average is $73.30 and its two-hundred day simple moving average is $69.36. Bank of Hawaii has a twelve month low of $54.50 and a twelve month high of $82.70.

Bank of Hawaii (NYSE:BOH) last posted its quarterly earnings data on Monday, January 27th. The bank reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.02). Bank of Hawaii had a return on equity of 11.33% and a net margin of 13.76%. As a group, equities analysts anticipate that Bank of Hawaii will post 3.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BOH shares. Piper Sandler lifted their price objective on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Tuesday. DA Davidson upped their price objective on Bank of Hawaii from $75.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday. Keefe, Bruyette & Woods increased their price objective on Bank of Hawaii from $74.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Barclays boosted their target price on Bank of Hawaii from $56.00 to $66.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Finally, Stephens started coverage on shares of Bank of Hawaii in a research report on Wednesday, November 27th. They set an “overweight” rating and a $90.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.00.

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.