First Hawaiian (NASDAQ:FHB) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

First Hawaiian (NASDAQ:FHB) had its target price lifted by The Goldman Sachs Group from $22.00 to $26.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a sell rating on the bank’s stock.

Several other research firms have also issued reports on FHB. Piper Sandler boosted their price target on shares of First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Barclays boosted their target price on shares of First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. JPMorgan Chase & Co. cut their price target on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods raised their target price on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.43.

First Hawaiian Stock Performance

Shares of First Hawaiian stock opened at $27.61 on Tuesday. The stock has a market capitalization of $3.53 billion, a P/E ratio of 15.78 and a beta of 0.96. First Hawaiian has a 52-week low of $19.43 and a 52-week high of $28.80. The stock’s 50-day simple moving average is $25.06 and its 200 day simple moving average is $23.29.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Monday, November 18th. First Hawaiian’s dividend payout ratio (DPR) is 59.43%.

Institutional Investors Weigh In On First Hawaiian

Several hedge funds have recently bought and sold shares of FHB. The Manufacturers Life Insurance Company raised its position in shares of First Hawaiian by 1.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock valued at $245,963,000 after buying an additional 122,599 shares in the last quarter. Dimensional Fund Advisors LP raised its position in First Hawaiian by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock valued at $108,057,000 after purchasing an additional 370,722 shares in the last quarter. American Century Companies Inc. lifted its stake in First Hawaiian by 6.5% during the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after purchasing an additional 203,407 shares during the last quarter. Reinhart Partners LLC. boosted its holdings in shares of First Hawaiian by 6.1% in the 3rd quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock worth $56,980,000 after purchasing an additional 141,327 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of First Hawaiian by 7.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,081,270 shares of the bank’s stock valued at $43,207,000 after purchasing an additional 139,291 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Company Profile

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.