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

Bank of Hawaii Co. (NYSE:BOH - Get Free Report) announced a quarterly dividend on Monday, October 28th, RTT News reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.70 per share by the bank on Friday, December 13th. This represents a $2.80 annualized dividend and a yield of 3.87%.

Bank of Hawaii has raised its dividend by an average of 1.5% per year over the last three years. Bank of Hawaii has a payout ratio of 81.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Research analysts expect Bank of Hawaii to earn $3.28 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 85.4%.

Bank of Hawaii Stock Up 9.6 %

Shares of Bank of Hawaii stock traded up $6.36 during midday trading on Monday, reaching $72.39. 749,036 shares of the company's stock traded hands, compared to its average volume of 319,632. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 0.71. Bank of Hawaii has a 52 week low of $48.83 and a 52 week high of $75.19. The company's 50 day simple moving average is $64.98 and its 200 day simple moving average is $61.81. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 7.30 and a beta of 1.05.

Analysts Set New Price Targets

A number of brokerages have weighed in on BOH. DA Davidson boosted their price target on Bank of Hawaii from $63.00 to $70.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Jefferies Financial Group boosted their target price on Bank of Hawaii from $53.00 to $54.00 and gave the stock a "hold" rating in a report on Wednesday, July 3rd. Piper Sandler downgraded Bank of Hawaii from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $70.00 to $61.00 in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods upgraded shares of Bank of Hawaii from an "underperform" rating to a "market perform" rating and boosted their price objective for the stock from $60.00 to $67.00 in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $60.40.

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.