First Hawaiian, Inc. (NASDAQ:FHB) Receives $24.67 Average Price Target from Analysts

First Hawaiian, Inc. (NASDAQ:FHB) has received an average rating of “Reduce” from the six brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $24.67.

Several brokerages have recently commented on FHB. The Goldman Sachs Group upped their price target on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research note on Monday, July 29th. Barclays increased their target price on shares of First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Wells Fargo & Company boosted their price target on shares of First Hawaiian from $18.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Piper Sandler lifted their target price on shares of First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. cut First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price target on the stock. in a research note on Monday, July 29th.

First Hawaiian Stock Performance

NASDAQ FHB opened at $23.46 on Tuesday. The stock’s fifty day moving average is $23.68 and its two-hundred day moving average is $21.97. The firm has a market capitalization of $3.00 billion, a P/E ratio of 13.48 and a beta of 0.98. First Hawaiian has a fifty-two week low of $17.18 and a fifty-two week high of $26.18.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, July 26th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.06. The firm had revenue of $204.62 million during the quarter, compared to analysts’ expectations of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. As a group, sell-side analysts forecast that First Hawaiian will post 1.79 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Monday, August 19th. First Hawaiian’s payout ratio is presently 59.77%.

Institutional Trading of First Hawaiian

A number of large investors have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of First Hawaiian during the fourth quarter worth $492,000. Natixis Advisors L.P. boosted its position in shares of First Hawaiian by 16.9% during the 4th quarter. Natixis Advisors L.P. now owns 16,215 shares of the bank’s stock worth $370,000 after acquiring an additional 2,343 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in shares of First Hawaiian in the 4th quarter valued at about $405,000. Charles Schwab Investment Management Inc. raised its position in shares of First Hawaiian by 8.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,540,275 shares of the bank’s stock worth $35,211,000 after acquiring an additional 115,109 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in First Hawaiian by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock worth $103,082,000 after purchasing an additional 668,871 shares during the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

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.