First Hawaiian, Inc. (NASDAQ:FHB) Receives $24.67 Consensus Price Target from Analysts

First Hawaiian, Inc. (NASDAQ:FHB) has been assigned an average rating of “Reduce” from the six research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $24.67.

Several research firms recently weighed in on FHB. Barclays increased their target price on First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. The Goldman Sachs Group upped their price objective on shares of First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research note on Monday, July 29th. Piper Sandler raised their target price on shares of First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Wells Fargo & Company upped their price target on shares of First Hawaiian from $18.00 to $22.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods increased their price target on shares of First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

First Hawaiian Price Performance

NASDAQ:FHB opened at $23.08 on Friday. First Hawaiian has a 1-year low of $17.18 and a 1-year high of $26.18. The firm has a 50 day simple moving average of $22.41 and a 200-day simple moving average of $21.64. The firm has a market cap of $2.95 billion, a PE ratio of 13.26 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB) last issued 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. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. The company had revenue of $204.62 million during the quarter, compared to the consensus estimate of $202.94 million. As a group, sell-side analysts expect that First Hawaiian will post 1.78 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.04 annualized dividend and a yield of 4.51%. First Hawaiian’s dividend payout ratio is currently 59.77%.

Institutional Trading of First Hawaiian

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning raised its position in First Hawaiian by 10.8% in the second quarter. Creative Planning now owns 22,205 shares of the bank’s stock valued at $461,000 after purchasing an additional 2,156 shares during the period. Algert Global LLC acquired a new stake in shares of First Hawaiian in the second quarter valued at about $267,000. SkyView Investment Advisors LLC raised its holdings in shares of First Hawaiian by 1.8% during the 2nd quarter. SkyView Investment Advisors LLC now owns 37,546 shares of the bank’s stock valued at $779,000 after buying an additional 652 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of First Hawaiian by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock valued at $218,025,000 after buying an additional 942,634 shares during the period. Finally, AQR Capital Management LLC lifted its position in First Hawaiian by 958.2% during the 2nd quarter. AQR Capital Management LLC now owns 439,423 shares of the bank’s stock worth $9,043,000 after acquiring an additional 397,897 shares in the last quarter. 97.63% of the stock is 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.