Analysts Set First Hawaiian, Inc. (NASDAQ:FHB) PT at $24.67

First Hawaiian, Inc. (NASDAQ:FHB) has earned a consensus recommendation of “Reduce” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $24.67.

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

First Hawaiian Price Performance

Shares of First Hawaiian stock opened at $22.66 on Tuesday. The business has a 50 day moving average price of $23.56 and a 200 day moving average price of $21.92. The company has a market capitalization of $2.90 billion, a P/E ratio of 13.02 and a beta of 0.98. First Hawaiian has a 1 year low of $17.18 and a 1 year high of $26.18.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, July 26th. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The company had revenue of $204.62 million during the quarter, compared to analysts’ expectations of $202.94 million. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. As a group, research analysts expect that First Hawaiian will post 1.79 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Monday, August 19th. First Hawaiian’s dividend payout ratio (DPR) is presently 59.77%.

Institutional Investors Weigh In On First Hawaiian

Institutional investors have recently bought and sold shares of the business. Whittier Trust Co. boosted its holdings in First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after acquiring an additional 507 shares during the period. TFO Wealth Partners LLC lifted its holdings in First Hawaiian by 35,620.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,786 shares of the bank’s stock worth $41,000 after buying an additional 1,781 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of First Hawaiian by 55.7% during the second quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $39,000 after acquiring an additional 678 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of First Hawaiian during the first quarter valued at about $42,000. Finally, Abich Financial Wealth Management LLC increased its position in shares of First Hawaiian by 48.9% during the first quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock worth $44,000 after acquiring an additional 652 shares during the last quarter. 97.63% of the stock is currently 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.