First Hawaiian (NASDAQ:FHB) Price Target Raised to $28.00 at Wells Fargo & Company

First Hawaiian (NASDAQ:FHB) had its price objective boosted by Wells Fargo & Company from $26.00 to $28.00 in a report published on Monday morning, Marketbeat.com reports. The firm currently has an underweight rating on the bank’s stock.

Other analysts have also recently issued reports about the company. Weiss Ratings upgraded First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Stephens set a $28.00 price target on First Hawaiian in a research note on Monday, April 27th. TD Cowen raised their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Tuesday, April 28th. 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 note on Monday, April 27th. Finally, Wall Street Zen lowered First Hawaiian from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $28.88.

First Hawaiian Stock Up 0.1%

Shares of NASDAQ:FHB opened at $30.37 on Monday. The company’s 50-day moving average price is $27.74 and its 200 day moving average price is $26.54. The company has a market cap of $3.69 billion, a PE ratio of 13.34, a P/E/G ratio of 2.20 and a beta of 0.72. First Hawaiian has a fifty-two week low of $22.65 and a fifty-two week high of $30.56.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, April 24th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm 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 quarter in the prior year, the firm earned $0.47 EPS. As a group, equities analysts anticipate that First Hawaiian will post 2.34 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, May 18th. First Hawaiian’s payout ratio is presently 45.61%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of First Hawaiian during the fourth quarter valued at approximately $40,281,000. AQR Capital Management LLC grew its position in First Hawaiian by 230.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank’s stock worth $54,784,000 after purchasing an additional 1,539,415 shares in the last quarter. UBS Group AG grew its position in First Hawaiian by 176.0% during the 4th quarter. UBS Group AG now owns 1,128,002 shares of the bank’s stock worth $28,538,000 after purchasing an additional 719,312 shares in the last quarter. Quantinno Capital Management LP raised its stake in First Hawaiian by 60.3% during the 1st quarter. Quantinno Capital Management LP now owns 1,798,815 shares of the bank’s stock valued at $44,323,000 after purchasing an additional 676,433 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in First Hawaiian by 96.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,096,002 shares of the bank’s stock valued at $27,729,000 after purchasing an additional 537,841 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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.