First Hawaiian (NASDAQ:FHB) Sets New 12-Month High at $23.28

Shares of First Hawaiian, Inc. (NASDAQ:FHB) reached a new 52-week high on Monday . The stock traded as high as $23.28 and last traded at $23.23, with a volume of 217889 shares traded. The stock had previously closed at $22.44.

Wall Street Analysts Forecast Growth

FHB has been the subject of several recent research reports. Wells Fargo & Company dropped their target price on shares of First Hawaiian from $20.00 to $18.00 and set an “underweight” rating for the company in a research report on Tuesday, June 25th. Barclays dropped their target price on shares of First Hawaiian from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of First Hawaiian from $25.50 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, First Hawaiian has an average rating of “Reduce” and a consensus target price of $21.50.

First Hawaiian Trading Up 2.1 %

The stock’s 50 day moving average price is $20.88 and its 200 day moving average price is $21.27. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 13.91 and a beta of 0.99.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, April 26th. The bank reported $0.42 EPS 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 company had revenue of $205.80 million during the quarter, compared to the consensus estimate of $202.41 million. On average, research analysts expect that First Hawaiian, Inc. will post 1.71 earnings per share for the current year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.21%. First Hawaiian’s payout ratio is 59.77%.

Institutional Investors Weigh In On First Hawaiian

Institutional investors and hedge funds have recently modified their holdings of the company. Treasurer of the State of North Carolina grew its position in shares of First Hawaiian by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 56,400 shares of the bank’s stock worth $1,289,000 after purchasing an additional 550 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of First Hawaiian by 8.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank’s stock worth $163,000 after purchasing an additional 550 shares in the last quarter. Abich Financial Wealth Management LLC grew its position in shares of First Hawaiian by 48.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock worth $44,000 after purchasing an additional 652 shares in the last quarter. Versant Capital Management Inc grew its position in shares of First Hawaiian by 55.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock worth $39,000 after purchasing an additional 678 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of First Hawaiian by 50.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,122 shares of the bank’s stock worth $44,000 after purchasing an additional 710 shares in the last quarter. 97.63% of the stock is owned by 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.