First Hawaiian (NASDAQ:FHB) Hits New 52-Week High – Still a Buy?

Shares of First Hawaiian, Inc. (NASDAQ:FHB) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $29.27 and last traded at $29.3720, with a volume of 64465 shares trading hands. The stock had previously closed at $28.96.

Analysts Set New Price Targets

Several brokerages have recently commented on FHB. Weiss Ratings raised shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. JPMorgan Chase & Co. cut their target price on 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 boosted their price target on First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, March 30th. Piper Sandler upped their price target on First Hawaiian from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, Wall Street Zen cut First Hawaiian from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $27.56.

First Hawaiian Stock Up 1.5%

The firm’s fifty day moving average is $27.26 and its two-hundred day moving average is $26.31. The firm has a market cap of $3.58 billion, a P/E ratio of 12.93, a PEG ratio of 2.11 and a beta of 0.74.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, April 24th. The bank reported $0.55 EPS for the quarter, topping 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 business had revenue of $220.35 million during the quarter, compared to analyst estimates of $223.59 million. During the same period in the prior year, the business earned $0.47 EPS. As a group, sell-side analysts forecast that First Hawaiian, Inc. will post 2.33 EPS for the current year.

First Hawaiian Dividend Announcement

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

Institutional Trading of First Hawaiian

Several institutional investors and hedge funds have recently bought and sold shares of FHB. Vanguard Group Inc. boosted its position in First Hawaiian by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock valued at $365,777,000 after acquiring an additional 358,632 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of First Hawaiian by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,693,630 shares of the bank’s stock worth $164,927,000 after acquiring an additional 313,362 shares during the period. State Street Corp raised its position in shares of First Hawaiian by 1.3% in the 2nd quarter. State Street Corp now owns 5,883,194 shares of the bank’s stock worth $146,845,000 after acquiring an additional 77,478 shares in the last quarter. AQR Capital Management LLC raised its position in shares of First Hawaiian by 68.6% in the 4th quarter. AQR Capital Management LLC now owns 3,720,826 shares of the bank’s stock worth $94,137,000 after acquiring an additional 1,514,465 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of First Hawaiian by 131.9% in the 3rd quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank’s stock valued at $71,800,000 after purchasing an additional 1,644,752 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

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.