First Hawaiian (NASDAQ:FHB) Given New $26.00 Price Target at The Goldman Sachs Group

First Hawaiian (NASDAQ:FHB) had its price objective hoisted by The Goldman Sachs Group from $22.00 to $26.00 in a research note released on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the bank’s stock.

A number of other brokerages have also weighed in on FHB. Barclays upped their target price on First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. decreased their target price on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 9th. Piper Sandler raised their price target on shares of First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $25.43.

First Hawaiian Price Performance

FHB stock opened at $27.61 on Tuesday. First Hawaiian has a 1 year low of $19.43 and a 1 year high of $28.80. The stock has a market capitalization of $3.53 billion, a PE ratio of 15.78 and a beta of 0.96. The company’s 50-day moving average is $25.06 and its 200-day moving average is $23.29.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were given a dividend of $0.26 per share. The ex-dividend date was Monday, November 18th. This represents a $1.04 annualized dividend and a dividend yield of 3.77%. First Hawaiian’s dividend payout ratio is currently 59.43%.

Institutional Trading of First Hawaiian

A number of institutional investors and hedge funds have recently modified their holdings of FHB. The Manufacturers Life Insurance Company boosted its position in First Hawaiian by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock worth $218,025,000 after purchasing an additional 942,634 shares during the last quarter. AQR Capital Management LLC grew its position in First Hawaiian by 958.2% during the second quarter. AQR Capital Management LLC now owns 439,423 shares of the bank’s stock valued at $9,043,000 after buying an additional 397,897 shares during the period. Dimensional Fund Advisors LP grew its position in First Hawaiian by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock valued at $108,057,000 after buying an additional 370,722 shares during the period. Harbor Capital Advisors Inc. increased its holdings in First Hawaiian by 96.8% during the third quarter. Harbor Capital Advisors Inc. now owns 478,262 shares of the bank’s stock worth $11,072,000 after buying an additional 235,253 shares during the last quarter. Finally, American Century Companies Inc. raised its position in First Hawaiian by 6.5% in the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after acquiring an additional 203,407 shares during the period. 97.63% of the stock is 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.