First Hawaiian (NASDAQ:FHB) Sets New 12-Month High – Should You Buy?

First Hawaiian, Inc. (NASDAQ:FHB)’s share price reached a new 52-week high on Tuesday . The company traded as high as $28.49 and last traded at $28.2860, with a volume of 144783 shares traded. The stock had previously closed at $27.54.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FHB shares. TD Cowen boosted their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Tuesday, April 28th. Stephens set a $28.00 target price on shares of First Hawaiian in a research note on Monday, April 27th. Weiss Ratings upgraded shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Piper Sandler boosted their target price on shares of First Hawaiian from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. lowered their target price on shares of First Hawaiian from $29.00 to $25.00 and set an “underweight” rating for the company in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $27.56.

First Hawaiian Price Performance

The company has a market cap of $3.41 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 2.05 and a beta of 0.74. The firm’s 50 day simple moving average is $26.74 and its 200-day simple moving average is $26.09.

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

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, May 18th. First Hawaiian’s dividend payout ratio is currently 45.61%.

Institutional Investors Weigh In On First Hawaiian

Several hedge funds have recently made changes to their positions in FHB. Eurizon Capital SGR S.p.A. acquired a new stake in shares of First Hawaiian during the fourth quarter worth about $26,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of First Hawaiian by 2,916.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after buying an additional 1,050 shares during the period. Global Retirement Partners LLC boosted its stake 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 during the period. Eagle Bay Advisors LLC acquired a new stake in shares of First Hawaiian during the fourth quarter worth about $46,000. Finally, Danske Bank A S acquired a new stake in shares of First Hawaiian during the third quarter worth about $47,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

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.