First Hawaiian (NASDAQ:FHB) Sets New 12-Month High on Analyst Upgrade

Shares of First Hawaiian, Inc. (NASDAQ:FHB) reached a new 52-week high during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $27.00 to $31.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. First Hawaiian traded as high as $30.05 and last traded at $29.98, with a volume of 253764 shares traded. The stock had previously closed at $29.30.

A number of other equities analysts also recently issued reports on FHB. TD Cowen increased their price target on First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Tuesday, April 28th. Stephens set a $28.00 target price on First Hawaiian in a research note on Monday, April 27th. Wall Street Zen lowered First Hawaiian from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Wells Fargo & Company lifted 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. Finally, Weiss Ratings raised shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $28.31.

Institutional Investors Weigh In On First Hawaiian

Several large investors have recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. purchased a new stake in shares of First Hawaiian during the fourth quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. boosted its stake 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 grew its holdings in shares of First Hawaiian by 45.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after buying an additional 534 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of First Hawaiian during the fourth quarter worth $46,000. Finally, Danske Bank A S acquired a new stake in shares of First Hawaiian in the third quarter valued at about $47,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Stock Up 2.7%

The stock’s 50-day moving average price is $27.49 and its 200 day moving average price is $26.42. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 2.15 and a beta of 0.74.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results 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. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. The firm had revenue of $220.35 million for the quarter, compared to analyst estimates of $223.59 million. During the same period in the previous year, the business posted $0.47 earnings per share. On average, sell-side analysts anticipate that First Hawaiian, Inc. will post 2.33 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, May 18th. First Hawaiian’s dividend payout ratio (DPR) is currently 45.61%.

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.