First Hawaiian (NASDAQ:FHB) Price Target Raised to $29.00

First Hawaiian (NASDAQ:FHB) had its target price hoisted by JPMorgan Chase & Co. from $27.00 to $29.00 in a research report released on Monday morning,Benzinga reports. They currently have an underweight rating on the bank’s stock.

FHB has been the topic of several other research reports. Piper Sandler lifted their target price on First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday. Wells Fargo & Company upped their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday. Stephens initiated coverage on shares of First Hawaiian in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 target price for the company. Keefe, Bruyette & Woods upped their price target on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday. Finally, The Goldman Sachs Group lifted their price objective on First Hawaiian from $26.00 to $29.00 and gave the company a “sell” rating in a research report on Monday. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, First Hawaiian has an average rating of “Hold” and a consensus target price of $29.00.

First Hawaiian Price Performance

FHB stock opened at $28.04 on Monday. The firm has a market capitalization of $3.59 billion, a P/E ratio of 15.66 and a beta of 0.99. First Hawaiian has a 52-week low of $19.48 and a 52-week high of $28.80. The company’s 50 day simple moving average is $26.40 and its 200-day simple moving average is $25.08.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same quarter in the prior year, the company posted $0.37 EPS. Sell-side analysts predict that First Hawaiian will post 1.74 EPS for the current fiscal year.

First Hawaiian Announces Dividend

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

Hedge Funds Weigh In On First Hawaiian

Several institutional investors have recently bought and sold shares of FHB. Blue Trust Inc. lifted 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 buying an additional 625 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in First Hawaiian in the 3rd quarter worth $51,000. Quarry LP lifted its position in First Hawaiian by 459.2% during the 3rd quarter. Quarry LP now owns 2,483 shares of the bank’s stock worth $57,000 after acquiring an additional 2,039 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in First Hawaiian by 32.4% during the fourth 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 during the period. Finally, GAMMA Investing LLC grew its position in shares of First Hawaiian by 49.1% in the third quarter. GAMMA Investing LLC now owns 3,163 shares of the bank’s stock valued at $73,000 after purchasing an additional 1,041 shares during the last quarter. 97.63% of the stock is currently owned by 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.