First Hawaiian, Inc. (NASDAQ:FHB) Receives $21.00 Consensus Price Target from Analysts

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

A number of brokerages have recently issued reports on FHB. Wells Fargo & Company reduced their price objective on shares of First Hawaiian from $20.00 to $18.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th. Barclays reduced 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 report on Monday, June 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of First Hawaiian from $25.50 to $24.00 and set a “neutral” rating for the company in a report on Thursday.

First Hawaiian Stock Up 1.4 %

Shares of NASDAQ FHB opened at $20.76 on Thursday. First Hawaiian has a twelve month low of $17.18 and a twelve month high of $23.22. The firm has a fifty day simple moving average of $20.94 and a 200 day simple moving average of $21.38. The company has a market capitalization of $2.65 billion, a PE ratio of 11.93 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, April 26th. The bank reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. First Hawaiian had a net margin of 19.20% and a return on equity of 9.16%. The business had revenue of $205.80 million during the quarter, compared to the consensus estimate of $202.41 million. As a group, equities analysts expect that First Hawaiian will post 1.71 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Friday, May 17th. First Hawaiian’s payout ratio is currently 59.77%.

Institutional Trading of First Hawaiian

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in First Hawaiian by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank’s stock worth $334,927,000 after acquiring an additional 87,304 shares during the period. The Manufacturers Life Insurance Company raised its position in First Hawaiian by 17.8% in the third quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock worth $186,842,000 after acquiring an additional 1,561,662 shares during the period. Dimensional Fund Advisors LP raised its position in First Hawaiian by 17.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock worth $103,082,000 after acquiring an additional 668,871 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in First Hawaiian by 124.3% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock worth $58,079,000 after acquiring an additional 1,408,160 shares during the period. Finally, Reinhart Partners LLC. raised its position in First Hawaiian by 2.1% in the first quarter. Reinhart Partners LLC. now owns 2,299,222 shares of the bank’s stock worth $50,491,000 after acquiring an additional 48,213 shares during the period. Institutional investors own 97.63% of the company’s stock.

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.