Stephens Initiates Coverage on First Hawaiian (NASDAQ:FHB)

Stephens assumed coverage on shares of First Hawaiian (NASDAQ:FHB) in a research report released on Wednesday morning, MarketBeat reports. The firm issued an equal weight rating and a $30.00 target price on the bank’s stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered 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. Wells Fargo & Company raised their target price 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, The Goldman Sachs Group upped their price target on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.43.

First Hawaiian Stock Up 0.0 %

Shares of FHB opened at $27.61 on Wednesday. The stock has a market capitalization of $3.53 billion, a P/E ratio of 15.78 and a beta of 0.96. First Hawaiian has a twelve month low of $19.43 and a twelve month high of $28.80. The firm has a fifty day simple moving average of $25.06 and a two-hundred day simple moving average of $23.29.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Monday, November 18th. First Hawaiian’s payout ratio is 59.43%.

Institutional Investors Weigh In On First Hawaiian

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of First Hawaiian by 5.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank’s stock valued at $237,000 after buying an additional 488 shares in the last quarter. Whittier Trust Co. raised its holdings in First Hawaiian by 68.7% during the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after acquiring an additional 507 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of First Hawaiian by 5.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 11,296 shares of the bank’s stock valued at $262,000 after acquiring an additional 569 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of First Hawaiian by 51.5% in the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock worth $43,000 after acquiring an additional 625 shares during the period. Finally, Abich Financial Wealth Management LLC grew its position in shares of First Hawaiian by 32.5% during the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock worth $55,000 after purchasing an additional 644 shares in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

About First Hawaiian

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.