Bank of Hawaii Corporation (BOH) Plans $0.52 Quarterly Dividend
Bank of Hawaii Corporation (NYSE:BOH) declared a quarterly dividend on Monday, October 23rd, RTT News reports. Shareholders of record on Thursday, November 30th will be paid a dividend of 0.52 per share by the bank on Thursday, December 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.44%.
Bank of Hawaii Corporation has increased its dividend by an average of 1.6% annually over the last three years. Bank of Hawaii Corporation has a dividend payout ratio of 47.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of Hawaii Corporation to earn $4.77 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 43.6%.
Shares of Bank of Hawaii Corporation (NYSE BOH) opened at 85.34 on Monday. Bank of Hawaii Corporation has a 52 week low of $72.97 and a 52 week high of $90.80. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 19.94 and a beta of 0.99. The stock has a 50 day moving average of $81.40 and a 200-day moving average of $81.16.
Bank of Hawaii Corporation (NYSE:BOH) last issued its quarterly earnings results on Monday, October 23rd. The bank reported $1.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.08. Bank of Hawaii Corporation had a net margin of 27.28% and a return on equity of 15.45%. During the same period in the prior year, the firm posted $1.02 earnings per share. Equities research analysts expect that Bank of Hawaii Corporation will post $4.42 earnings per share for the current year.
In other news, insider Donna A. Tanoue sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $76.88, for a total transaction of $461,280.00. Following the completion of the transaction, the insider now directly owns 9,969 shares of the company’s stock, valued at approximately $766,416.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donna A. Tanoue sold 4,050 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $76.15, for a total transaction of $308,407.50. Following the transaction, the insider now directly owns 9,969 shares of the company’s stock, valued at $759,139.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,235 shares of company stock valued at $860,767. Insiders own 2.16% of the company’s stock.
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A number of analysts have weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $92.00 price target on shares of Bank of Hawaii Corporation in a report on Wednesday, October 11th. Zacks Investment Research downgraded shares of Bank of Hawaii Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. BidaskClub downgraded shares of Bank of Hawaii Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Morgan Stanley reissued an “underweight” rating and issued a $77.00 price target (up from $75.00) on shares of Bank of Hawaii Corporation in a report on Wednesday, October 4th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $94.00 price target on shares of Bank of Hawaii Corporation in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $88.60.
About Bank of Hawaii Corporation
Bank of Hawaii Corporation is a bank holding company that operates through its subsidiary, Bank of Hawaii (the Bank). The Bank provides a range of financial products and services primarily to customers in Hawaii, Guam and other Pacific Islands. It operates in four segments: Retail Banking, Commercial Banking, Investment Services, and Treasury and Other.
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