First Hawaiian (NASDAQ:FHB) Shares Break Below Fifty Day Moving Average – Here’s What Happened

Shares of First Hawaiian, Inc. (NASDAQ:FHB) passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $25.36 and traded as low as $25.07. First Hawaiian shares last traded at $25.20, with a volume of 2,041,942 shares.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FHB shares. Weiss Ratings restated a “buy (b)” rating on shares of First Hawaiian in a report on Friday, October 2nd. Barclays upped their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. TD Cowen decreased their price target on shares of First Hawaiian from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, October 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of First Hawaiian from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, October 26th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $29.00.

First Hawaiian Stock Performance

The business has a fifty day moving average price of $25.36 and a 200 day moving average price of $26.55. The company has a market capitalization of $3.07 billion, a PE ratio of 11.30, a P/E/G ratio of 1.37 and a beta of 0.76.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, October 23rd. The bank reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.07). First Hawaiian had a net margin of 23.73% and a return on equity of 9.83%. The firm had revenue of $230.23 million during the quarter, compared to analyst estimates of $229.20 million. During the same period in the prior year, the firm earned $0.59 earnings per share. Research analysts forecast that First Hawaiian, Inc. will post 2.30 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 16th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, November 16th. First Hawaiian’s payout ratio is 46.64%.

Institutional Investors Weigh In On First Hawaiian

Several institutional investors have recently bought and sold shares of the business. Covestor Ltd grew its holdings in First Hawaiian by 15.0% during the 3rd quarter. Covestor Ltd now owns 3,900 shares of the bank’s stock valued at $96,000 after purchasing an additional 509 shares in the last quarter. CKW Financial Group increased its stake in First Hawaiian by 11.4% during the 3rd quarter. CKW Financial Group now owns 35,744 shares of the bank’s stock worth $890,000 after buying an additional 3,644 shares during the period. Choreo LLC lifted its holdings in First Hawaiian by 9.1% in the 3rd quarter. Choreo LLC now owns 26,651 shares of the bank’s stock worth $656,000 after buying an additional 2,226 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in First Hawaiian by 10.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 8,797 shares of the bank’s stock worth $217,000 after buying an additional 832 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in First Hawaiian by 10.3% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 10,073 shares of the bank’s stock worth $248,000 after buying an additional 939 shares in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

About First Hawaiian

First Hawaiian, Inc is the parent company of First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858, First Hawaiian Bank is the oldest bank in Hawaii and serves consumers, businesses, and government entities across the Pacific.

The bank provides a broad range of financial products and services, including checking and savings accounts, consumer and residential loans, commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.