Bank of Hawaii Co. (BOH) Raises Dividend to $0.62 Per Share

Share on StockTwits

Bank of Hawaii Co. (NYSE:BOH) announced a quarterly dividend on Monday, October 22nd, RTT News reports. Investors of record on Friday, November 30th will be paid a dividend of 0.62 per share by the bank on Friday, December 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.33%. This is a boost from Bank of Hawaii’s previous quarterly dividend of $0.60.

Bank of Hawaii has increased its dividend payment by an average of 4.3% annually over the last three years and has raised its dividend every year for the last 2 years. Bank of Hawaii has a dividend payout ratio of 47.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bank of Hawaii to earn $5.65 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 43.9%.

Shares of NYSE:BOH opened at $74.47 on Tuesday. Bank of Hawaii has a 12 month low of $73.95 and a 12 month high of $89.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.19 billion, a P/E ratio of 15.95, a P/E/G ratio of 1.69 and a beta of 0.67.

Bank of Hawaii (NYSE:BOH) last released its earnings results on Monday, October 22nd. The bank reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Bank of Hawaii had a net margin of 28.32% and a return on equity of 16.26%. During the same period in the prior year, the company earned $1.08 earnings per share. Research analysts predict that Bank of Hawaii will post 5.26 earnings per share for the current fiscal year.

A number of research firms recently weighed in on BOH. Zacks Investment Research raised shares of Bank of Hawaii from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research report on Thursday, July 12th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $89.00 price objective on shares of Bank of Hawaii in a research report on Tuesday, July 24th. ValuEngine raised shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Finally, Morgan Stanley lifted their price objective on shares of Bank of Hawaii from $86.00 to $87.00 and gave the company an “underweight” rating in a research report on Thursday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Bank of Hawaii has a consensus rating of “Hold” and a consensus price target of $90.90.

In related news, Director Mary G. F. Bitterman sold 367 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $81.91, for a total transaction of $30,060.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Barbara J. Tanabe sold 613 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $83.23, for a total transaction of $51,019.99. The disclosure for this sale can be found here. 2.04% of the stock is currently owned by insiders.

About Bank of Hawaii

Bank of Hawaii Corporation operates as the bank holding company for Bank of Hawaii that provides financial products and services in Hawaii, Guam, and other Pacific Islands. It operates through four segments: Retail Banking, Commercial Banking, Investment Services and Private Banking, and Treasury and Other.

Read More: Dividend

Dividend History for Bank of Hawaii (NYSE:BOH)

Receive News & Ratings for Bank of Hawaii Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of Hawaii and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply