First Hawaiian, Inc. (NASDAQ:FHB) Given Average Recommendation of “Reduce” by Analysts

First Hawaiian, Inc. (NASDAQ:FHB) has been assigned an average recommendation of “Reduce” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $27.5625.

A number of research firms have recently commented on FHB. Wells Fargo & Company boosted their target price on shares of First Hawaiian from $24.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, March 30th. JPMorgan Chase & Co. decreased their price target on shares of First Hawaiian from $29.00 to $25.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Wall Street Zen lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Finally, Piper Sandler raised their target price on First Hawaiian from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, April 27th.

First Hawaiian Stock Performance

Shares of NASDAQ FHB opened at $27.18 on Thursday. The firm has a fifty day moving average of $26.12 and a 200 day moving average of $25.89. The firm has a market cap of $3.31 billion, a PE ratio of 11.92, a PEG ratio of 2.02 and a beta of 0.75. First Hawaiian has a one year low of $22.65 and a one year high of $28.35.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $220.35 million during the quarter, compared to analysts’ expectations of $223.59 million. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. During the same period in the prior year, the business posted $0.47 earnings per share. On average, equities analysts predict that First Hawaiian will post 2.33 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, May 18th. First Hawaiian’s dividend payout ratio (DPR) is 45.61%.

Hedge Funds Weigh In On First Hawaiian

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Elo Mutual Pension Insurance Co lifted its stake in First Hawaiian by 94.2% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 51,139 shares of the bank’s stock worth $1,270,000 after purchasing an additional 24,805 shares in the last quarter. SG Americas Securities LLC lifted its stake in First Hawaiian by 409.2% in the 4th quarter. SG Americas Securities LLC now owns 89,506 shares of the bank’s stock worth $2,265,000 after purchasing an additional 71,927 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of First Hawaiian during the 4th quarter valued at approximately $1,243,000. Ruffer LLP purchased a new stake in shares of First Hawaiian during the 4th quarter valued at approximately $3,028,000. Finally, Vanguard Group Inc. raised its position in shares of First Hawaiian by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock valued at $365,777,000 after buying an additional 358,632 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Company Profile

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.