Brokerages Set First Hawaiian, Inc. (NASDAQ:FHB) PT at $27.64

First Hawaiian, Inc. (NASDAQ:FHB) has earned an average recommendation of “Strong Sell” from the seven research firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $27.6429.

A number of research firms have recently weighed in on FHB. Wall Street Zen upgraded First Hawaiian from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. JPMorgan Chase & Co. increased their price objective on First Hawaiian from $25.00 to $25.50 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Barclays reissued an “underweight” rating on shares of First Hawaiian in a report on Tuesday, July 8th. Wells Fargo & Company lifted their price target on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Thursday, July 10th. Finally, Keefe, Bruyette & Woods decreased their price target on First Hawaiian from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Thursday, April 24th.

First Hawaiian Price Performance

FHB stock opened at $24.04 on Friday. The business has a 50-day moving average price of $24.69 and a 200 day moving average price of $24.73. The company has a market capitalization of $3.02 billion, a P/E ratio of 12.39, a PEG ratio of 5.83 and a beta of 0.84. First Hawaiian has a 1-year low of $20.32 and a 1-year high of $28.80.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $217.54 million for the quarter, compared to analyst estimates of $214.67 million. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, analysts anticipate that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.3%. First Hawaiian’s dividend payout ratio (DPR) is presently 53.61%.

Hedge Funds Weigh In On First Hawaiian

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of First Hawaiian in the 4th quarter worth approximately $36,266,000. Raymond James Financial Inc. bought a new stake in shares of First Hawaiian during the 4th quarter valued at $32,086,000. Nuveen LLC bought a new stake in shares of First Hawaiian in the 1st quarter valued at $16,248,000. Balyasny Asset Management L.P. increased its position in shares of First Hawaiian by 427.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 617,717 shares of the bank’s stock valued at $16,030,000 after buying an additional 500,535 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of First Hawaiian by 3.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 10,493,396 shares of the bank’s stock valued at $256,459,000 after buying an additional 360,088 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Company Profile

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.