First Hawaiian, Inc. (FHB) to Distribute Quarterly Dividend of $0.26 on November 27th

First Hawaiian, Inc. (NASDAQ:FHB) declared a quarterly dividend on Wednesday, October 21st. Shareholders of record on Monday, November 16th will be paid a dividend of $0.26 per share by the bank on Friday, November 27th. This represents a $1.04 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, November 16th.

First Hawaiian has a payout ratio of 49.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Hawaiian to earn $2.56 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 40.6%.

First Hawaiian Stock Performance

Shares of FHB stock traded down $0.79 during mid-day trading on Friday, hitting $25.34. 5,798,257 shares of the stock traded hands, compared to its average volume of 1,874,799. First Hawaiian has a twelve month low of $23.26 and a twelve month high of $30.58. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.31 and a beta of 0.76. The company’s 50-day simple moving average is $25.56 and its 200-day simple moving average is $27.00.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, October 23rd. The bank reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.07). The firm had revenue of $230.23 million during the quarter, compared to the consensus estimate of $229.20 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%. During the same period in the prior year, the firm posted $0.59 EPS. Analysts forecast that First Hawaiian will post 2.39 earnings per share for the current year.

Institutional Investors Weigh In On First Hawaiian

Several hedge funds have recently modified their holdings of the stock. Elevation Wealth Partners LLC boosted its position in shares of First Hawaiian by 378.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock valued at $27,000 after purchasing an additional 738 shares during the period. Anchor Investment Management LLC purchased a new position in First Hawaiian in the 2nd quarter worth about $30,000. Pension & Wealth Management Advisors Inc. purchased a new position in First Hawaiian in the 3rd quarter worth about $30,000. Root Financial Partners LLC acquired a new stake in First Hawaiian during the 3rd quarter worth about $31,000. Finally, Global Retirement Partners LLC acquired a new stake in First Hawaiian during the 2nd quarter worth about $51,000. 97.63% of the stock is 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.