Bank of Hawaii Corporation (NYSE:BOH) Announces Quarterly Dividend of $0.70

Bank of Hawaii Corporation (NYSE:BOH) declared a quarterly dividend on Monday, January 26th. Shareholders of record on Friday, February 27th will be paid a dividend of 0.70 per share by the bank on Friday, March 13th. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, February 27th.

Bank of Hawaii has decreased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 1 years. Bank of Hawaii has a dividend payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of Hawaii to earn $4.75 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 58.9%.

Bank of Hawaii Trading Up 6.1%

NYSE BOH traded up $4.35 during trading hours on Monday, hitting $75.15. 835,927 shares of the company’s stock were exchanged, compared to its average volume of 367,698. Bank of Hawaii has a 12-month low of $57.44 and a 12-month high of $76.00. The business’s 50 day moving average is $68.70 and its 200-day moving average is $66.67. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $2.99 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 0.62 and a beta of 0.75.

Bank of Hawaii (NYSE:BOH) last issued its quarterly earnings results on Monday, January 26th. The bank reported $1.39 EPS for the quarter, topping the consensus estimate of $1.24 by $0.15. The firm had revenue of $189.65 million during the quarter, compared to analyst estimates of $184.83 million. Bank of Hawaii had a net margin of 17.41% and a return on equity of 13.33%. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, analysts anticipate that Bank of Hawaii will post 3.97 EPS for the current fiscal year.

Insider Buying and Selling at Bank of Hawaii

In other Bank of Hawaii news, CEO Peter S. Ho sold 15,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $67.87, for a total transaction of $1,018,050.00. Following the transaction, the chief executive officer owned 156,774 shares in the company, valued at $10,640,251.38. This trade represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.07% of the company’s stock.

Hedge Funds Weigh In On Bank of Hawaii

Several large investors have recently bought and sold shares of BOH. DAVENPORT & Co LLC boosted its stake in shares of Bank of Hawaii by 11.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 23,832 shares of the bank’s stock valued at $1,609,000 after purchasing an additional 2,477 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Bank of Hawaii in the 2nd quarter valued at $3,222,000. Capital Fund Management S.A. acquired a new position in Bank of Hawaii in the second quarter worth $2,238,000. Norges Bank acquired a new stake in shares of Bank of Hawaii in the second quarter valued at $30,569,000. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of Bank of Hawaii by 10.5% in the second quarter. KLP Kapitalforvaltning AS now owns 8,400 shares of the bank’s stock valued at $567,000 after buying an additional 800 shares during the last quarter. 82.18% of the stock is currently owned by institutional investors and hedge funds.

About Bank of Hawaii

Bank of Hawaii (NYSE: BOH) is a regional commercial bank headquartered in Honolulu, Hawaii, with roots tracing back to its founding in 1897 by Charles Montague Cooke and Peter Cushman Jones. As one of the oldest financial institutions in the U.S. West Coast region, the bank has built a reputation for stability and community focus. It operates as the principal subsidiary of Bank of Hawaii Corporation, a publicly traded company on the New York Stock Exchange.

The bank offers a comprehensive suite of personal and business banking products and services.