First Hawaiian (NASDAQ:FHB) Given New $24.00 Price Target at JPMorgan Chase & Co.

First Hawaiian (NASDAQ:FHB) had its price target trimmed by JPMorgan Chase & Co. from $25.50 to $24.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Several other analysts have also recently issued reports on the stock. Barclays reduced their price target on shares of First Hawaiian from $25.00 to $24.00 and set an equal weight rating on the stock in a research report on Monday. Wells Fargo & Company reduced their price target on shares of First Hawaiian from $20.00 to $18.00 and set an underweight rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Reduce and a consensus target price of $21.50.

First Hawaiian Price Performance

NASDAQ FHB opened at $20.47 on Thursday. The firm’s 50-day moving average is $20.95 and its two-hundred day moving average is $21.38. First Hawaiian has a 12 month low of $17.18 and a 12 month high of $23.22. The stock has a market capitalization of $2.62 billion, a P/E ratio of 11.76 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, April 26th. The bank reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. First Hawaiian had a net margin of 19.20% and a return on equity of 9.16%. The company had revenue of $205.80 million for the quarter, compared to analysts’ expectations of $202.41 million. As a group, analysts anticipate that First Hawaiian will post 1.71 EPS for the current year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.04 annualized dividend and a yield of 5.08%. First Hawaiian’s dividend payout ratio (DPR) is 59.77%.

Institutional Trading of First Hawaiian

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in First Hawaiian by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank’s stock valued at $334,927,000 after acquiring an additional 87,304 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in First Hawaiian by 17.8% in the third quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock valued at $186,842,000 after acquiring an additional 1,561,662 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in First Hawaiian by 17.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock valued at $103,082,000 after acquiring an additional 668,871 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in First Hawaiian by 124.3% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock valued at $58,079,000 after acquiring an additional 1,408,160 shares in the last quarter. Finally, Reinhart Partners LLC. raised its holdings in First Hawaiian by 2.1% in the first quarter. Reinhart Partners LLC. now owns 2,299,222 shares of the bank’s stock valued at $50,491,000 after acquiring an additional 48,213 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

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.