First Hawaiian (NASDAQ:FHB) Hits New 12-Month High – Here’s What Happened

First Hawaiian, Inc. (NASDAQ:FHB)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $28.69 and last traded at $28.7440, with a volume of 996924 shares changing hands. The stock had previously closed at $28.69.

Analysts Set New Price Targets

Several brokerages have recently commented on FHB. Weiss Ratings upgraded shares of 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 shares of First Hawaiian in a research note on Monday, April 27th. Wells Fargo & Company raised their price target on shares of First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, March 30th. 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, April 1st. Finally, Wall Street Zen cut shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $27.56.

First Hawaiian Trading Down 0.7%

The stock’s 50-day moving average is $26.88 and its 200-day moving average is $26.14. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 2.11 and a beta of 0.74.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business 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 company earned $0.47 EPS. On average, equities research analysts anticipate that First Hawaiian, Inc. will post 2.33 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, May 18th. First Hawaiian’s dividend payout ratio is currently 45.61%.

Hedge Funds Weigh In On First Hawaiian

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. acquired a new position in First Hawaiian in the 4th quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. raised its position in First Hawaiian by 2,916.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after purchasing an additional 1,050 shares during the last quarter. Global Retirement Partners LLC raised its position in First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in First Hawaiian during the 4th quarter worth $46,000. Finally, Danske Bank A S bought a new position in First Hawaiian during the 3rd quarter worth $47,000. 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.