Brokerages Set First Hawaiian, Inc. (NASDAQ:FHB) PT at $29.00

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have received a consensus recommendation of “Reduce” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $29.00.

A number of equities analysts have commented on FHB shares. JPMorgan Chase & Co. boosted their price objective on First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Barclays raised their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. The Goldman Sachs Group upped their target price on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company increased their price target on shares of First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd.

First Hawaiian Stock Performance

FHB opened at $21.66 on Friday. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 3.28 and a beta of 0.77. The firm’s 50-day simple moving average is $25.93 and its 200-day simple moving average is $25.64. First Hawaiian has a twelve month low of $19.48 and a twelve month high of $28.80.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, January 31st. The bank reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same period last year, the firm earned $0.37 EPS. As a group, sell-side analysts anticipate that First Hawaiian will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.26 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a yield of 4.80%. First Hawaiian’s payout ratio is presently 58.10%.

Institutional Investors Weigh In On First Hawaiian

A number of institutional investors have recently made changes to their positions in FHB. Norges Bank acquired a new position in First Hawaiian during the fourth quarter valued at approximately $36,266,000. Raymond James Financial Inc. acquired a new position in shares of First Hawaiian in the 4th quarter valued at $32,086,000. Alliancebernstein L.P. increased its position in shares of First Hawaiian by 19.7% in the 4th quarter. Alliancebernstein L.P. now owns 5,244,211 shares of the bank’s stock valued at $136,087,000 after buying an additional 864,420 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in First Hawaiian by 427.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 617,717 shares of the bank’s stock worth $16,030,000 after buying an additional 500,535 shares during the period. Finally, First Trust Advisors LP raised its stake in First Hawaiian by 40.7% during the 4th quarter. First Trust Advisors LP now owns 927,586 shares of the bank’s stock worth $24,071,000 after buying an additional 268,191 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

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.