TD Cowen Cuts First Hawaiian (NASDAQ:FHB) Price Target to $28.00

First Hawaiian (NASDAQ:FHB) had its target price lowered by TD Cowen from $31.00 to $28.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

Other equities analysts have also recently issued research reports about the company. Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Stephens raised First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a report on Thursday, August 6th. The Goldman Sachs Group boosted their price objective on First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. upgraded First Hawaiian from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $30.00 to $29.00 in a research report on Thursday, October 1st. Finally, Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a report on Sunday, September 27th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.00.

First Hawaiian Stock Performance

FHB stock opened at $24.64 on Monday. First Hawaiian has a one year low of $22.65 and a one year high of $30.58. The firm’s fifty day moving average is $26.16 and its 200 day moving average is $26.96. The firm has a market cap of $3.00 billion, a PE ratio of 10.71, a P/E/G ratio of 1.55 and a beta of 0.76.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The business had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. Research analysts predict that First Hawaiian will post 2.38 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.2%. First Hawaiian’s payout ratio is 45.22%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FHB. Eurizon Capital SGR S.p.A. acquired a new stake in First Hawaiian during the fourth quarter worth about $26,000. Elevation Wealth Partners LLC grew its stake in shares of First Hawaiian by 378.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock valued at $27,000 after buying an additional 738 shares during the period. Anchor Investment Management LLC acquired a new stake in shares of First Hawaiian during the 2nd quarter worth approximately $30,000. Global Retirement Partners LLC purchased a new stake in shares of First Hawaiian during the 2nd quarter valued at approximately $51,000. Finally, Nykredit A S acquired a new position in First Hawaiian in the second quarter valued at approximately $65,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

About First Hawaiian

First Hawaiian, Inc is a bank holding company headquartered in Honolulu, Hawaii, and the parent company of First Hawaiian Bank. Founded in 1858, First Hawaiian Bank is one of the oldest financial institutions in Hawaii and provides banking services to consumers, businesses, and government and institutional customers.

First Hawaiian Bank offers a range of financial products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, credit cards, treasury management, online and mobile banking, and wealth management services.