First Hawaiian (NASDAQ:FHB) Price Target Raised to $24.00

First Hawaiian (NASDAQ:FHB) had its price objective boosted by Wells Fargo & Company from $22.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the bank’s stock.

Several other research firms have also recently weighed in on FHB. JPMorgan Chase & Co. raised their target price on shares of First Hawaiian from $25.00 to $27.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. Stephens started coverage on shares of First Hawaiian in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price objective on the stock. Barclays upped their price objective on First Hawaiian from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. The Goldman Sachs Group boosted their target price on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods raised their price target on First Hawaiian from $28.00 to $31.00 and gave the company a “market perform” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, First Hawaiian has a consensus rating of “Hold” and an average target price of $29.00.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $28.04 on Monday. The company’s 50-day moving average price is $26.40 and its two-hundred day moving average price is $25.08. First Hawaiian has a one year low of $19.48 and a one year high of $28.80. The stock has a market capitalization of $3.59 billion, a PE ratio of 15.66 and a beta of 0.99.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same quarter in the previous year, the firm earned $0.37 earnings per share. On average, analysts anticipate that First Hawaiian will post 1.74 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 3.71%. First Hawaiian’s payout ratio is currently 58.10%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of First Hawaiian by 51.5% during the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock worth $43,000 after purchasing an additional 625 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of First Hawaiian in the third quarter valued at approximately $51,000. Quarry LP grew its position in First Hawaiian by 459.2% during the third quarter. Quarry LP now owns 2,483 shares of the bank’s stock worth $57,000 after buying an additional 2,039 shares in the last quarter. GAMMA Investing LLC increased its stake in First Hawaiian by 49.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,163 shares of the bank’s stock worth $73,000 after acquiring an additional 1,041 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in First Hawaiian by 32.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock valued at $74,000 after acquiring an additional 693 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

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.