Wells Fargo & Company Lowers First Hawaiian (NASDAQ:FHB) Price Target to $20.00

First Hawaiian (NASDAQ:FHB) had its price objective cut by Wells Fargo & Company from $22.00 to $20.00 in a report released on Tuesday morning, Benzinga reports. They currently have an underweight rating on the bank’s stock.

Several other brokerages also recently issued reports on FHB. Keefe, Bruyette & Woods upped their price objective on First Hawaiian from $25.00 to $26.00 and gave the company a market perform rating in a research report on Monday, July 29th. Piper Sandler upped 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. The Goldman Sachs Group lifted their price target on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a sell rating in a report on Monday, July 29th. Barclays upped their price objective on shares of First Hawaiian from $24.00 to $25.00 and gave the company an equal weight rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. lowered shares of First Hawaiian from a neutral rating to an underweight rating and set a $24.00 target price on the stock. in a research report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Reduce and an average price target of $24.33.

First Hawaiian Trading Up 2.4 %

NASDAQ:FHB opened at $22.90 on Tuesday. First Hawaiian has a twelve month low of $17.18 and a twelve month high of $26.18. The company has a market capitalization of $2.93 billion, a P/E ratio of 13.16 and a beta of 0.98. The firm has a 50-day moving average price of $23.49 and a two-hundred day moving average price of $22.15.

First Hawaiian (NASDAQ:FHB) last issued 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. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. The firm had revenue of $204.62 million during the quarter, compared to the consensus estimate of $202.94 million. On average, equities research analysts predict that First Hawaiian will post 1.79 earnings per share for the current year.

First Hawaiian Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.26 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.04 dividend on an annualized basis and a yield of 4.54%. First Hawaiian’s payout ratio is 59.77%.

Hedge Funds Weigh In On First Hawaiian

A number of large investors have recently bought and sold shares of the stock. Whittier Trust Co. grew its stake in shares of First Hawaiian by 68.7% during the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after buying an additional 507 shares during the period. Treasurer of the State of North Carolina grew its position in First Hawaiian by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 56,400 shares of the bank’s stock valued at $1,289,000 after acquiring an additional 550 shares during the period. PNC Financial Services Group Inc. grew its position in First Hawaiian by 8.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank’s stock valued at $163,000 after acquiring an additional 550 shares during the period. Abich Financial Wealth Management LLC increased its stake in First Hawaiian by 32.5% during the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock worth $55,000 after acquiring an additional 644 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in shares of First Hawaiian by 1.8% in the 2nd quarter. SkyView Investment Advisors LLC now owns 37,546 shares of the bank’s stock worth $779,000 after purchasing an additional 652 shares during the period. Hedge funds and other 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.