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

Bank of Hawaii Co. (NYSE:BOH - Get Free Report) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date 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. 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 traded down $0.21 on Tuesday, reaching $58.20. 334,519 shares of the stock traded hands, compared to its average volume of 343,711. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.70 and a quick ratio of 0.70. Bank of Hawaii has a 12 month low of $30.83 and a 12 month high of $75.19. The stock's 50-day moving average price is $60.45 and its 200-day moving average price is $60.74.

Bank of Hawaii (NYSE:BOH - Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The bank reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). Bank of Hawaii had a net margin of 17.35% and a return on equity of 14.35%. The firm had revenue of $252.64 million for the quarter, compared to the consensus estimate of $160.79 million. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Equities analysts forecast that Bank of Hawaii will post 3.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BOH shares. StockNews.com upgraded Bank of Hawaii to a "sell" rating in a research report on Thursday, January 25th. Barclays lowered their price target 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 upped their price target on Bank of Hawaii from $55.00 to $58.00 and gave the company an "underperform" rating in a research report on Tuesday. Jefferies Financial Group decreased their target price on Bank of Hawaii from $67.00 to $62.00 and set a "hold" rating on the stock in a report on Monday, April 8th. Finally, Piper Sandler decreased their target price on Bank of Hawaii from $65.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average 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.