Barclays Forecasts Strong Price Appreciation for First Hawaiian (NASDAQ:FHB) Stock

First Hawaiian (NASDAQ:FHB) had its target price lifted by Barclays from $28.00 to $30.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Other research analysts also recently issued reports about the stock. Piper Sandler raised their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective on First Hawaiian from $25.00 to $27.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. Stephens initiated coverage on First Hawaiian in a research note on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 target price on the stock. Wells Fargo & Company upped their price target on First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, The Goldman Sachs Group lifted their price objective on shares of First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $29.00.

First Hawaiian Stock Performance

First Hawaiian stock opened at $27.58 on Monday. The company has a market capitalization of $3.53 billion, a P/E ratio of 15.41 and a beta of 0.99. First Hawaiian has a fifty-two week low of $19.48 and a fifty-two week high of $28.80. The stock has a 50-day simple moving average of $26.41 and a 200-day simple moving average of $25.03.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, analysts forecast that First Hawaiian will post 1.74 earnings per share for the current year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Friday, February 14th. First Hawaiian’s dividend payout ratio (DPR) is currently 58.10%.

Hedge Funds Weigh In On First Hawaiian

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CKW Financial Group boosted its holdings in First Hawaiian by 1.2% during the fourth quarter. CKW Financial Group now owns 32,600 shares of the bank’s stock worth $846,000 after buying an additional 400 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of First Hawaiian by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 3,624 shares of the bank’s stock valued at $94,000 after acquiring an additional 461 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of First Hawaiian by 5.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank’s stock valued at $237,000 after acquiring an additional 488 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of First Hawaiian by 5.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,296 shares of the bank’s stock worth $262,000 after acquiring an additional 569 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of First Hawaiian by 51.5% in the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock worth $43,000 after acquiring an additional 625 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

About First Hawaiian

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.