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

First Hawaiian, Inc. (NASDAQ:FHB) hit a new 52-week high on Tuesday after The Goldman Sachs Group raised their price target on the stock from $27.00 to $30.00. The Goldman Sachs Group currently has a sell rating on the stock. First Hawaiian traded as high as $30.58 and last traded at $30.2960, with a volume of 43300 shares changing hands. The stock had previously closed at $30.34.

Several other research firms have also issued reports on FHB. Wells Fargo & Company upped their target price on First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Piper Sandler upped their price objective on First Hawaiian from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings raised First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Finally, Stephens set a $28.00 target price on shares of First Hawaiian in a report on Monday, April 27th. 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. Based on data from MarketBeat.com, First Hawaiian has an average rating of “Reduce” and a consensus target price of $28.88.

Institutional Trading of First Hawaiian

Institutional investors and hedge funds have recently made changes to their positions in the company. Oak Thistle LLC acquired a new stake in First Hawaiian in the fourth quarter valued at about $1,243,000. SG Americas Securities LLC increased its stake in shares of First Hawaiian by 409.2% in the fourth quarter. SG Americas Securities LLC now owns 89,506 shares of the bank’s stock valued at $2,265,000 after buying an additional 71,927 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 358,632 shares during the period. Ruffer LLP acquired a new stake in First Hawaiian during the 4th quarter worth approximately $3,028,000. Finally, UBS Group AG grew its holdings 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 acquiring an additional 719,312 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Trading Up 0.2%

The company’s 50-day simple moving average is $27.74 and its 200-day simple moving average is $26.54. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 2.20 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $220.35 million for 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 previous year, the firm posted $0.47 earnings per share. On average, equities research analysts expect that First Hawaiian, Inc. will post 2.34 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders 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 dividend yield of 3.4%. The ex-dividend date was Monday, May 18th. First Hawaiian’s dividend payout ratio (DPR) is 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.