First Hawaiian (NASDAQ:FHB) Reaches New 52-Week High – What’s Next?

First Hawaiian, Inc. (NASDAQ:FHB) hit a new 52-week high during trading on Monday . The stock traded as high as $28.78 and last traded at $28.70, with a volume of 22358 shares changing hands. The stock had previously closed at $27.90.

Analysts Set New Price Targets

A number of research firms have issued reports on FHB. The Goldman Sachs Group lifted their target price 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. JPMorgan Chase & Co. decreased their price objective on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Barclays boosted their price target 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. Wells Fargo & Company raised their price objective on First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. Finally, Piper Sandler upped their target price on First Hawaiian from $22.00 to $27.00 and gave the stock 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 given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $24.33.

First Hawaiian Stock Up 1.6 %

The firm has a 50-day moving average of $24.66 and a 200 day moving average of $23.10. The stock has a market capitalization of $3.62 billion, a P/E ratio of 15.94 and a beta of 0.96.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.04 dividend on an annualized basis and a yield of 3.67%. First Hawaiian’s payout ratio is currently 59.43%.

Institutional Investors Weigh In On First Hawaiian

A number of institutional investors have recently added to or reduced their stakes in FHB. The Manufacturers Life Insurance Company boosted its stake in shares of First Hawaiian by 1.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock valued at $245,963,000 after purchasing an additional 122,599 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in First Hawaiian by 9.9% in the second 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in First Hawaiian by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock worth $108,057,000 after buying an additional 370,722 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of First Hawaiian by 6.5% during the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after buying an additional 203,407 shares in the last quarter. Finally, Reinhart Partners LLC. raised its stake in shares of First Hawaiian by 6.1% in the third quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock valued at $56,980,000 after acquiring an additional 141,327 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

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.