First Hawaiian (NASDAQ:FHB) Sets New 52-Week High – Should You Buy?

First Hawaiian, Inc. (NASDAQ:FHB)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.27 and last traded at $29.3720, with a volume of 64465 shares traded. The stock had previously closed at $28.96.

Analyst Ratings Changes

FHB has been the topic of a number of analyst reports. Wall Street Zen cut First Hawaiian from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Wells Fargo & Company boosted their price target on First Hawaiian from $24.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, March 30th. Stephens set a $28.00 price objective on First Hawaiian in a research report on Monday, April 27th. JPMorgan Chase & Co. decreased their price objective on First Hawaiian from $29.00 to $25.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Finally, Weiss Ratings upgraded First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, First Hawaiian currently has an average rating of “Reduce” and a consensus price target of $27.56.

First Hawaiian Trading Up 0.9%

The business has a 50 day simple moving average of $27.38 and a two-hundred day simple moving average of $26.37. The company has a market cap of $3.59 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 2.16 and a beta of 0.74.

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

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.5%. First Hawaiian’s dividend payout ratio is currently 45.61%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in First Hawaiian by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock valued at $365,777,000 after purchasing an additional 358,632 shares during the period. Dimensional Fund Advisors LP raised its stake in First Hawaiian by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,693,630 shares of the bank’s stock worth $164,927,000 after purchasing an additional 313,362 shares during the period. State Street Corp boosted its holdings in shares of First Hawaiian by 1.3% in the 2nd quarter. State Street Corp now owns 5,883,194 shares of the bank’s stock valued at $146,845,000 after purchasing an additional 77,478 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of First Hawaiian by 68.6% in the 4th quarter. AQR Capital Management LLC now owns 3,720,826 shares of the bank’s stock valued at $94,137,000 after purchasing an additional 1,514,465 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of First Hawaiian by 131.9% during the 3rd quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank’s stock valued at $71,800,000 after buying an additional 1,644,752 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

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.