Bank of Hawaii Co. (BOH) to Issue Quarterly Dividend of $0.70 on June 14th

Bank of Hawaii Co. (NYSE:BOH) announced 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 annualized dividend and a yield of 4.81%. The ex-dividend date 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% indicating that 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 Performance

NYSE:BOH opened at $58.20 on Wednesday. The stock has a 50-day simple moving average of $60.41 and a two-hundred day simple moving average of $60.81. Bank of Hawaii has a 52-week low of $30.83 and a 52-week high of $75.19. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $2.31 billion, a PE ratio of 15.00, a P/E/G 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). Bank of Hawaii had a net margin of 15.91% and a return on equity of 13.25%. The company had revenue of $252.64 million for the quarter, compared to the consensus estimate of $160.79 million. During the same period in the prior year, the firm posted $1.14 EPS. Analysts forecast that Bank of Hawaii will post 3.72 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on BOH. StockNews.com upgraded Bank of Hawaii to a “sell” rating in a research report on Thursday, January 25th. Piper Sandler lowered 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 lowered 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 boosted their price objective on Bank of Hawaii from $55.00 to $58.00 and gave the company an “underperform” rating in a research report on Tuesday. Finally, Jefferies Financial Group lowered 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. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.