Analysts Set First Hawaiian, Inc. (NASDAQ:FHB) Price Target at $21.50

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have been assigned an average recommendation of “Reduce” from the four brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $21.50.

Several brokerages have recently commented on FHB. Wells Fargo & Company lowered their price objective on shares of First Hawaiian from $20.00 to $18.00 and set an “underweight” rating for the company in a research note on Tuesday, June 25th. Barclays lowered their price objective on shares of First Hawaiian from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of First Hawaiian from $25.50 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th.

First Hawaiian Stock Up 3.9 %

First Hawaiian stock opened at $26.10 on Monday. The company has a market capitalization of $3.34 billion, a PE ratio of 15.00 and a beta of 0.99. The firm has a fifty day simple moving average of $21.31 and a two-hundred day simple moving average of $21.41. First Hawaiian has a twelve month low of $17.18 and a twelve month high of $26.18.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, July 26th. The bank reported $0.48 EPS for the quarter, beating the consensus estimate of $0.42 by $0.06. The firm had revenue of $204.62 million during the quarter, compared to the consensus estimate of $202.94 million. First Hawaiian had a net margin of 19.20% and a return on equity of 9.16%. As a group, equities analysts expect that First Hawaiian will post 1.71 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Monday, August 19th. First Hawaiian’s dividend payout ratio is currently 59.77%.

Hedge Funds Weigh In On First Hawaiian

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC grew its holdings in First Hawaiian by 196.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,253 shares of the bank’s stock worth $27,000 after purchasing an additional 831 shares during the period. GAMMA Investing LLC purchased a new stake in First Hawaiian in the fourth quarter worth about $37,000. Quent Capital LLC grew its holdings in First Hawaiian by 86.5% in the fourth quarter. Quent Capital LLC now owns 1,759 shares of the bank’s stock worth $40,000 after purchasing an additional 816 shares during the period. TFO Wealth Partners LLC grew its holdings in First Hawaiian by 35,620.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,786 shares of the bank’s stock worth $41,000 after purchasing an additional 1,781 shares during the period. Finally, Versant Capital Management Inc grew its holdings in First Hawaiian by 55.7% in the second quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock worth $39,000 after purchasing an additional 678 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

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.