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

Bank of Hawaii Corporation (NYSE:BOH) announced a quarterly dividend on Monday, July 28th, RTT News reports. Stockholders 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 dividend yield of 4.47%. The ex-dividend date of this dividend is Friday, August 29th.

Bank of Hawaii has a dividend payout ratio of 54.3% 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 Trading Down 0.5%

Bank of Hawaii stock opened at $62.58 on Wednesday. The stock has a market cap of $2.49 billion, a P/E ratio of 16.42, a PEG ratio of 1.02 and a beta of 0.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.71. Bank of Hawaii has a 1 year low of $57.44 and a 1 year high of $82.70. The firm’s 50 day moving average price is $67.27 and its 200-day moving average price is $68.46.

Bank of Hawaii (NYSE:BOH) last posted its earnings results on Monday, July 28th. The bank reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Bank of Hawaii had a net margin of 16.30% and a return on equity of 12.67%. The firm had revenue of $174.48 million during the quarter, compared to analyst estimates of $177.82 million. During the same period last year, the firm posted $0.81 earnings per share. On average, equities analysts predict that Bank of Hawaii will post 3.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bank of Hawaii

A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Bank of Hawaii by 16.4% in the 1st quarter. Royal Bank of Canada now owns 26,241 shares of the bank’s stock worth $1,808,000 after acquiring an additional 3,689 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Bank of Hawaii by 177.5% in the 1st 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Bank of Hawaii by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,272 shares of the bank’s stock valued at $1,605,000 after purchasing an additional 1,027 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Bank of Hawaii by 35.8% in the 1st quarter. Intech Investment Management LLC now owns 19,808 shares of the bank’s stock valued at $1,366,000 after purchasing an additional 5,227 shares in the last quarter. Finally, Strs Ohio purchased a new position in Bank of Hawaii in the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 82.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on BOH shares. Barclays lifted 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 note on Tuesday, July 8th. Stephens dropped their price objective on shares of Bank of Hawaii from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of Hawaii currently has a consensus rating of “Hold” and a consensus target price of $74.40.

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.