First Hawaiian (NASDAQ:FHB) Hits New 12-Month High – Here’s What Happened

First Hawaiian, Inc. (NASDAQ:FHB)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.69 and last traded at $28.7440, with a volume of 996924 shares traded. The stock had previously closed at $28.69.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FHB. Piper Sandler raised their target price on First Hawaiian from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. TD Cowen raised their price target on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Tuesday, April 28th. Wall Street Zen lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. reduced their price objective on shares of First Hawaiian from $29.00 to $25.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Finally, Weiss Ratings raised shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $27.56.

First Hawaiian Stock Performance

The stock’s 50 day moving average price is $26.88 and its 200 day moving average price is $26.14. The company has a market capitalization of $3.47 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 2.11 and a beta of 0.74.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, April 24th. The bank reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. The company had revenue of $220.35 million for the quarter, compared to analyst estimates of $223.59 million. During the same period in the prior year, the firm posted $0.47 EPS. On average, analysts expect that First Hawaiian, Inc. will post 2.33 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, May 18th. First Hawaiian’s dividend payout ratio is currently 45.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FHB. Eurizon Capital SGR S.p.A. bought a new position in First Hawaiian during the fourth quarter worth $26,000. Northwestern Mutual Wealth Management Co. boosted its stake in First Hawaiian by 2,916.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after acquiring an additional 1,050 shares in the last quarter. Global Retirement Partners LLC boosted its stake in First Hawaiian by 45.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after acquiring an additional 534 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in First Hawaiian during the fourth quarter worth $46,000. Finally, Danske Bank A S bought a new position in First Hawaiian during the third quarter worth $47,000. 97.63% of the stock is owned by institutional investors.

About First Hawaiian

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.