First Hawaiian, Inc. (NASDAQ:FHB) Stock Has Consensus Price Target of $30.25 According to Brokerages

First Hawaiian, Inc. (NASDAQ:FHB) has received an average rating of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $29.00.

Several equities research analysts have weighed in on FHB shares. Zacks Research downgraded shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Stephens upgraded First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a report on Thursday, August 6th. TD Cowen reduced their price objective on First Hawaiian from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Hawaiian in a research report on Friday. Finally, Wells Fargo & Company dropped their price objective on shares of First Hawaiian from $28.00 to $26.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 30th.

First Hawaiian Stock Down 0.2%

Shares of NASDAQ FHB opened at $25.00 on Wednesday. The company has a market capitalization of $3.04 billion, a PE ratio of 10.87, a P/E/G ratio of 1.56 and a beta of 0.76. First Hawaiian has a twelve month low of $22.65 and a twelve month high of $30.58. The firm has a fifty day simple moving average of $26.23 and a 200 day simple moving average of $26.95.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.The firm had revenue of $231.27 million for the quarter, compared to analyst estimates of $227.77 million. During the same period in the previous year, the firm earned $0.58 earnings per share. As a group, equities analysts expect that First Hawaiian will post 2.37 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 17th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 annualized dividend and a yield of 4.2%. First Hawaiian’s dividend payout ratio (DPR) is presently 45.22%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in First Hawaiian during the second quarter worth about $483,971,000. Dimensional Fund Advisors LP lifted its position 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 buying an additional 313,362 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of First Hawaiian by 0.7% during the 2nd quarter. Reinhart Partners LLC. now owns 2,660,876 shares of the bank’s stock worth $77,964,000 after buying an additional 18,977 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of First Hawaiian during the second quarter valued at approximately $62,568,000. Finally, Bank of America Corp DE bought a new stake in First Hawaiian during the second quarter worth $53,105,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Company Profile

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.