Piper Sandler Cuts First Hawaiian (NASDAQ:FHB) Price Target to $25.00

First Hawaiian (NASDAQ:FHB) had its price target trimmed by Piper Sandler from $27.00 to $25.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Several other research analysts also recently issued reports on FHB. The Goldman Sachs Group set a $27.50 price target on shares of First Hawaiian and gave the stock a “sell” rating in a research report on Tuesday, January 6th. TD Cowen reaffirmed a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. Zacks Research lowered First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. JPMorgan Chase & Co. lowered their price objective on shares of First Hawaiian from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, First Hawaiian presently has a consensus rating of “Reduce” and an average target price of $26.93.

First Hawaiian Price Performance

First Hawaiian stock opened at $25.05 on Thursday. First Hawaiian has a fifty-two week low of $20.32 and a fifty-two week high of $28.35. The firm’s 50 day simple moving average is $25.42 and its 200-day simple moving average is $25.31. The company has a market cap of $3.08 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.98 and a beta of 0.71.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The business had revenue of $225.85 million for the quarter, compared to analyst estimates of $225.33 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, analysts expect that First Hawaiian will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.04 annualized dividend and a yield of 4.2%. First Hawaiian’s dividend payout ratio is 47.27%.

Insider Activity

In other news, Director Craig Scott Wo sold 1,500 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $27.21, for a total value of $40,815.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Hawaiian

Several hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its holdings in First Hawaiian by 586.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,649 shares of the bank’s stock valued at $67,000 after purchasing an additional 2,263 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of First Hawaiian by 150.0% in the fourth quarter. Corient Private Wealth LLC now owns 39,366 shares of the bank’s stock valued at $996,000 after acquiring an additional 23,622 shares in the last quarter. Kera Capital Partners Inc. acquired a new position in shares of First Hawaiian during the 4th quarter worth approximately $360,000. Invesco Ltd. increased its holdings in shares of First Hawaiian by 3.1% during the fourth quarter. Invesco Ltd. now owns 543,874 shares of the bank’s stock worth $13,760,000 after purchasing an additional 16,454 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its stake in First Hawaiian by 41.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 44,243 shares of the bank’s stock worth $1,119,000 after acquiring an additional 13,050 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

About First Hawaiian

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.