First Hawaiian, Inc. (NASDAQ:FHB) to Issue Quarterly Dividend of $0.26

First Hawaiian, Inc. (NASDAQ:FHB) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Investors of record on Friday, February 14th will be given a dividend of 0.26 per share by the bank on Friday, February 28th. This represents a $1.04 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, February 14th.

First Hawaiian has a payout ratio of 49.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Hawaiian to earn $2.15 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 48.4%.

First Hawaiian Stock Performance

FHB traded down $0.44 during mid-day trading on Wednesday, reaching $27.31. 40,511 shares of the stock were exchanged, compared to its average volume of 795,634. The company has a 50 day moving average price of $26.41 and a two-hundred day moving average price of $25.16. The stock has a market capitalization of $3.49 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 3.39 and a beta of 0.99. First Hawaiian has a 1 year low of $19.48 and a 1 year high of $28.80.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same quarter in the previous year, the firm earned $0.37 EPS. Sell-side analysts expect that First Hawaiian will post 1.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. The Goldman Sachs Group raised their target price on First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a research report on Monday, February 3rd. Stephens initiated coverage on First Hawaiian in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price target on the stock. Finally, Piper Sandler lifted their price objective on First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, First Hawaiian presently has a consensus rating of “Hold” and an average target price of $29.00.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.