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

Bank of Hawaii Co. (NYSE:BOH) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.70 per share by the bank on Friday, June 14th. This represents a $2.80 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Friday, May 31st.

Bank of Hawaii has raised its dividend by an average of 1.5% per year over the last three years. Bank of Hawaii has a payout ratio of 69.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of Hawaii to earn $4.23 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 66.2%.

Bank of Hawaii Stock Down 0.4 %

NYSE:BOH opened at $58.20 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $60.41 and its two-hundred day moving average is $60.81. Bank of Hawaii has a 52 week low of $30.83 and a 52 week high of $75.19. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings results on Monday, April 22nd. The bank reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). Bank of Hawaii had a return on equity of 13.25% and a net margin of 15.91%. The firm had revenue of $252.64 million for the quarter, compared to analyst estimates of $160.79 million. During the same quarter last year, the company earned $1.14 earnings per share. Research analysts anticipate that Bank of Hawaii will post 3.72 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BOH. Jefferies Financial Group cut their price objective on Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Piper Sandler cut their price objective on Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday. Barclays cut their price objective on Bank of Hawaii from $51.00 to $50.00 and set an “underweight” rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods upped their price objective on Bank of Hawaii from $55.00 to $58.00 and gave the stock an “underperform” rating in a research report on Tuesday. Finally, StockNews.com raised Bank of Hawaii to a “sell” rating in a research report on Thursday, January 25th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $52.20.

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.