First Hawaiian (NASDAQ:FHB) Given New $25.00 Price Target at Piper Sandler

First Hawaiian (NASDAQ:FHB) had its price objective reduced by Piper Sandler from $27.00 to $25.00 in a research note released on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Several other research firms have also commented on FHB. TD Cowen reissued a “hold” rating on shares of First Hawaiian in a research report on Monday, February 2nd. Weiss Ratings raised shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Wells Fargo & Company increased their target price on shares of First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday. The Goldman Sachs Group set a $27.50 target price on shares of First Hawaiian and gave the company a “sell” rating in a research note on Tuesday, January 6th. Finally, Zacks Research lowered shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $26.93.

First Hawaiian Trading Up 0.3%

FHB opened at $25.05 on Thursday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.98 and a beta of 0.71. First Hawaiian has a 12 month low of $20.32 and a 12 month high of $28.35. The stock has a fifty day moving average price of $25.46 and a 200-day moving average price of $25.31.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, January 30th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.The company had revenue of $225.85 million for the quarter, compared to the consensus estimate of $225.33 million. During the same quarter last year, the company earned $0.41 earnings per share. On average, equities research analysts forecast that First Hawaiian will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. First Hawaiian’s payout ratio is presently 47.27%.

Insider Activity

In other news, Director Craig Scott Wo sold 1,500 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by company insiders.

Institutional Trading of First Hawaiian

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in shares of First Hawaiian by 8.6% in the first quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock worth $4,041,000 after buying an additional 13,071 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of First Hawaiian by 9.3% during the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock valued at $246,000 after buying an additional 856 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of First Hawaiian during the first quarter valued at $201,000. Empowered Funds LLC increased its position in shares of First Hawaiian by 10.4% in the 1st quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock valued at $401,000 after acquiring an additional 1,542 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of First Hawaiian by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock valued at $10,389,000 after acquiring an additional 31,686 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

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.