First Hawaiian (NASDAQ:FHB) PT Lowered to $23.00 at JPMorgan Chase & Co.

First Hawaiian (NASDAQ:FHB) had its target price cut by JPMorgan Chase & Co. from $24.00 to $23.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an underweight rating on the bank’s stock.

A number of other research analysts have also recently commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the company a market perform rating in a research report on Monday, July 29th. Barclays upped their target price on shares of First Hawaiian from $24.00 to $25.00 and gave the company an equal weight rating in a research report on Monday, July 29th. Wells Fargo & Company decreased their target price on shares of First Hawaiian from $22.00 to $20.00 and set an underweight rating on the stock in a research report on Tuesday, October 1st. The Goldman Sachs Group upped their target price on shares of First Hawaiian from $21.00 to $24.00 and gave the company a sell rating in a research report on Monday, July 29th. Finally, 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 research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, First Hawaiian presently has an average rating of Reduce and an average price target of $24.17.

First Hawaiian Trading Up 2.8 %

Shares of FHB stock opened at $23.54 on Wednesday. The company’s 50-day moving average price is $23.32 and its 200-day moving average price is $22.19. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 13.61 and a beta of 0.98. First Hawaiian has a twelve month low of $17.18 and a twelve month high of $26.18.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, July 26th. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.06. The firm had revenue of $204.62 million for 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, equities research analysts predict that First Hawaiian will post 1.78 EPS for the current year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.04 dividend on an annualized basis and a yield of 4.42%. First Hawaiian’s dividend payout ratio (DPR) is presently 60.12%.

Institutional Trading of First Hawaiian

A number of large investors have recently made changes to their positions in the company. Creative Planning increased its stake in shares of First Hawaiian by 6.4% during the third quarter. Creative Planning now owns 23,629 shares of the bank’s stock worth $547,000 after buying an additional 1,424 shares during the period. Wesbanco Bank Inc. purchased a new stake in shares of First Hawaiian during the third quarter worth approximately $435,000. Retirement Planning Group LLC increased its stake in shares of First Hawaiian by 2.5% during the third quarter. Retirement Planning Group LLC now owns 33,696 shares of the bank’s stock worth $780,000 after buying an additional 808 shares during the period. Reinhart Partners LLC. increased its stake in shares of First Hawaiian by 6.1% during the third quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock worth $56,980,000 after buying an additional 141,327 shares during the period. Finally, CWM LLC increased its stake in shares of First Hawaiian by 7.0% during the third quarter. CWM LLC now owns 11,612 shares of the bank’s stock worth $269,000 after buying an additional 761 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

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.