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

Bank of Hawaii Co. (NYSE:BOH - Get Free Report) announced a quarterly dividend on Tuesday, April 22nd, Wall Street Journal reports. Shareholders of record on Friday, May 30th will be paid a dividend of 0.70 per share by the bank on Friday, June 13th. This represents a $2.80 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, May 30th.

Bank of Hawaii has raised its dividend by an average of 0.7% per year over the last three years. Bank of Hawaii has a payout ratio of 58.9% indicating that its dividend is sufficiently covered by earnings. 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 0.7 %

BOH stock traded down $0.44 during trading on Friday, reaching $65.90. 314,947 shares of the stock were exchanged, compared to its average volume of 368,783. The business has a 50 day moving average price of $67.23 and a 200-day moving average price of $70.98. Bank of Hawaii has a 1 year low of $54.50 and a 1 year high of $82.70. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 19.05 and a beta of 0.87.

Bank of Hawaii (NYSE:BOH - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The bank reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $169.87 million during the quarter, compared to analyst estimates of $168.65 million. Bank of Hawaii had a return on equity of 11.81% and a net margin of 14.47%. During the same period in the prior year, the business posted $0.87 earnings per share. On average, research analysts predict that Bank of Hawaii will post 3.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BOH shares. Piper Sandler increased their target price on shares of Bank of Hawaii from $66.00 to $68.00 and gave the stock an "underweight" rating in a research note on Tuesday, January 28th. DA Davidson lifted their target price on shares of Bank of Hawaii from $75.00 to $79.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, Barclays upped their price target on Bank of Hawaii from $64.00 to $67.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $73.17.

Insider Buying and Selling at Bank of Hawaii

In related news, insider Taryn L. Salmon sold 449 shares of Bank of Hawaii stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $74.97, for a total value of $33,661.53. Following the completion of the transaction, the insider now owns 9,880 shares in the company, valued at $740,703.60. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Patrick M. Mcguirk sold 2,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $75.08, for a total transaction of $150,160.00. Following the completion of the sale, the chief accounting officer now directly owns 9,173 shares in the company, valued at approximately $688,708.84. This represents a 17.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by corporate insiders.

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.