Bank of Hawaii Co. (NYSE:BOH) announced a quarterly dividend on Monday, January 22nd, RTT News reports. Investors of record on Wednesday, February 28th will be paid a dividend of 0.52 per share by the bank on Wednesday, March 14th. This represents a $2.08 annualized dividend and a dividend yield of 2.40%.
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 47.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank of Hawaii to earn $5.16 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 40.3%.
Shares of Bank of Hawaii (NYSE BOH) opened at $86.73 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.22. Bank of Hawaii has a one year low of $74.72 and a one year high of $89.39. The firm has a market cap of $3,684.17, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.98 and a beta of 0.97.
A number of analysts have commented on the stock. Piper Jaffray Companies reaffirmed a “hold” rating and set a $92.50 price target on shares of Bank of Hawaii in a research report on Tuesday, January 9th. Zacks Investment Research cut shares of Bank of Hawaii from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $88.00 price target on shares of Bank of Hawaii in a research report on Tuesday, October 24th. Morgan Stanley reaffirmed an “underweight” rating and set a $77.00 price target (up previously from $75.00) on shares of Bank of Hawaii in a research report on Wednesday, October 4th. Finally, Barclays upped their price target on shares of Bank of Hawaii from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $92.25.
Bank of Hawaii announced that its Board of Directors has authorized a stock repurchase program on Monday, October 23rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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About Bank of Hawaii
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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