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

Key Points

• Bank of Hawaii Corporation announced a quarterly dividend of $0.70 per share, to be paid on September 15th, representing a 4.27% yield.
• The bank has a payout ratio of 54.3%, indicating that its dividend is well-covered by earnings, with analysts forecasting earnings of $4.75 per share next year.
• Current price performance shows shares opened at $65.65 with a 52-week high of $82.70, while the stock has a consensus price target of $77.20.

Bank of Hawaii Corporation (NYSE:BOH - Get Free Report) declared a quarterly dividend on Monday, July 28th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 4.27%.

Bank of Hawaii has a payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE:BOH opened at $65.65 on Monday. The stock has a market cap of $2.61 billion, a PE ratio of 18.44, a PEG ratio of 1.06 and a beta of 0.77. The company's fifty day moving average is $67.55 and its 200 day moving average is $68.53. Bank of Hawaii has a 52 week low of $57.44 and a 52 week high of $82.70. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.41.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The bank reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.02. Bank of Hawaii had a net margin of 15.12% and a return on equity of 12.16%. Research analysts anticipate that Bank of Hawaii will post 3.97 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new position in shares of Bank of Hawaii in the 1st quarter worth approximately $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 worth $1,605,000 after buying an additional 1,027 shares during the last quarter. Royal Bank of Canada grew its position in shares of 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 buying an additional 3,689 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Bank of Hawaii by 35.8% in the 1st quarter. Intech Investment Management LLC now owns 19,808 shares of the bank's stock worth $1,366,000 after buying an additional 5,227 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Bank of Hawaii by 177.5% in the 1st quarter. AQR Capital Management LLC now owns 23,818 shares of the bank's stock worth $1,617,000 after buying an additional 15,234 shares during the last quarter. Hedge funds and other institutional investors own 82.18% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barclays upped their target price 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. 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $77.20.

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.

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