Bank of Hawaii Corporation (NYSE:BOH) to Buyback $100.00 million in Outstanding Shares

Bank of Hawaii Corporation (NYSE:BOH) announced that its board has approved a share buyback program, which permits the company to buyback $100.00 million in outstanding shares on Monday, October 23rd, EventVestor reports. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Shares of Bank of Hawaii Corporation (NYSE:BOH) traded up $0.20 on Friday, reaching $78.86. The company’s stock had a trading volume of 145,200 shares, compared to its average volume of 195,268. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $3,341.37, a P/E ratio of 18.08, a PEG ratio of 2.09 and a beta of 0.96. Bank of Hawaii Corporation has a 52 week low of $74.72 and a 52 week high of $90.80.

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 the Thomson Reuters’ consensus estimate of $1.08. Bank of Hawaii Corporation had a return on equity of 15.45% and a net margin of 27.27%. The company had revenue of $158.73 million during the quarter, compared to the consensus estimate of $163.29 million. During the same period in the previous year, the firm posted $1.02 EPS. research analysts anticipate that Bank of Hawaii Corporation will post 4.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $2.08 annualized dividend and a dividend yield of 2.64%. Bank of Hawaii Corporation’s dividend payout ratio is presently 47.82%.

A number of equities analysts recently issued reports on BOH shares. Zacks Investment Research lowered Bank of Hawaii Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $88.00 price target on shares of Bank of Hawaii Corporation in a research report on Tuesday, October 24th. BidaskClub downgraded shares of Bank of Hawaii Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reiterated a “hold” rating and set a $85.00 price target on shares of Bank of Hawaii Corporation in a research report on Friday, July 14th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $77.00 price target (up from $75.00) on shares of Bank of Hawaii Corporation in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Bank of Hawaii Corporation has an average rating of “Hold” and a consensus target price of $87.92.

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In other Bank of Hawaii Corporation news, insider Donna A. Tanoue sold 4,050 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $76.15, for a total value of $308,407.50. Following the completion of the transaction, the insider now directly owns 9,969 shares of the company’s stock, valued at approximately $759,139.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Donna A. Tanoue sold 1,185 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $76.86, for a total transaction of $91,079.10. Following the completion of the transaction, the insider now directly owns 15,204 shares of the company’s stock, valued at $1,168,579.44. The disclosure for this sale can be found here. Insiders have sold a total of 11,235 shares of company stock valued at $860,767 over the last three months. Corporate insiders own 2.16% of the company’s stock.

Bank of Hawaii Corporation 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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