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

Bank of Hawaii Co. (NYSE:BOH) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Investors of record on Friday, May 31st will be paid 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 4.79%. The ex-dividend date of this dividend is Friday, May 31st.

Bank of Hawaii has increased its dividend payment 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. Research 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

Shares of BOH stock opened at $58.42 on Tuesday. Bank of Hawaii has a one year low of $30.83 and a one year high of $75.19. The company has a 50 day moving average price of $60.45 and a 200 day moving average price of $60.74. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of Hawaii (NYSE:BOH) last released its quarterly earnings data 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 return on equity of 14.35% and a net margin of 17.35%. During the same quarter last year, the business posted $1.14 earnings per share. Sell-side analysts anticipate that Bank of Hawaii will post 3.72 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BOH. Keefe, Bruyette & Woods dropped their price objective on shares of Bank of Hawaii from $57.00 to $55.00 and set an “underperform” rating for the company in a research report on Tuesday, January 23rd. Barclays began coverage on shares of Bank of Hawaii in a research report on Friday, March 8th. They issued an “underweight” rating and a $51.00 price objective for the company. Piper Sandler dropped their price objective on shares of Bank of Hawaii from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday. StockNews.com upgraded shares of Bank of Hawaii to a “sell” rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group decreased their target price on shares of Bank of Hawaii from $67.00 to $62.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat, Bank of Hawaii presently has a consensus rating of “Reduce” and a consensus price target of $51.80.

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.