Bank of Hawaii Co. (BOH) Plans $0.52 Quarterly Dividend
Bank of Hawaii Co. (NYSE:BOH) declared a quarterly dividend on Monday, January 22nd, RTT News reports. Stockholders 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 raised its dividend by an average of 4.3% per year over the last three years and has raised its dividend every year for the last 2 years. Bank of Hawaii has a payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. 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%.
Bank of Hawaii (NYSE BOH) opened at $86.73 on Monday. Bank of Hawaii has a fifty-two week low of $74.72 and a fifty-two week high of $89.39. The firm has a market cap of $3,684.17, a PE ratio of 19.94, a PEG ratio of 1.98 and a beta of 0.97. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.22.
BOH has been the topic of several research reports. Zacks Investment Research upgraded shares of Bank of Hawaii from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Morgan Stanley upped their target price on shares of Bank of Hawaii from $76.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, December 13th. Jefferies Group restated a “hold” rating and issued a $92.00 target price on shares of Bank of Hawaii in a report on Wednesday, October 11th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $92.00 target price on shares of Bank of Hawaii in a report on Friday, December 22nd. Finally, Barclays upped their target price on shares of Bank of Hawaii from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $92.25.
Bank of Hawaii declared that its Board of Directors has authorized a stock repurchase plan on Monday, October 23rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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Bank of Hawaii Company Profile
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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