Brokerages Set First Hawaiian, Inc. (NASDAQ:FHB) Target Price at $27.56

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have received an average recommendation of “Reduce” from the nine research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $27.5625.

A number of research analysts recently commented on the stock. Stephens set a $28.00 price objective on shares of First Hawaiian in a research note on Monday, April 27th. JPMorgan Chase & Co. lowered their price objective on shares of First Hawaiian from $29.00 to $25.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Wells Fargo & Company raised their price objective 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. Piper Sandler raised their price objective on shares of 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 shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

First Hawaiian Trading Up 0.9%

FHB opened at $29.55 on Monday. The business’s 50 day moving average is $27.38 and its 200-day moving average is $26.37. The stock 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 has a twelve month low of $22.65 and a twelve month high of $29.63.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.The company had revenue of $220.35 million for the quarter, compared to analysts’ expectations of $223.59 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. As a group, analysts forecast that First Hawaiian will post 2.33 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.26 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.04 annualized dividend and a yield of 3.5%. First Hawaiian’s payout ratio is 45.61%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FHB. Royal Bank of Canada grew its position in First Hawaiian by 8.6% in the first quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock worth $4,041,000 after buying an additional 13,071 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in First Hawaiian by 9.3% in the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock worth $246,000 after buying an additional 856 shares during the last quarter. United Services Automobile Association acquired a new position in First Hawaiian in the first quarter worth approximately $201,000. Empowered Funds LLC grew its position in First Hawaiian by 10.4% in the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock worth $401,000 after buying an additional 1,542 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in First Hawaiian by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock worth $10,389,000 after buying an additional 31,686 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

About First Hawaiian

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.