First Hawaiian (NASDAQ:FHB) Hits New 1-Year High – Still a Buy?

Shares of First Hawaiian, Inc. (NASDAQ:FHB) reached a new 52-week high on Monday . The company traded as high as $28.69 and last traded at $28.7440, with a volume of 996924 shares changing hands. The stock had previously closed at $28.69.

Analysts Set New Price Targets

FHB has been the subject of a number of recent research reports. TD Cowen raised their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “hold” rating in a report on Tuesday, April 28th. Stephens set a $28.00 target price on shares of First Hawaiian in a report on Monday, April 27th. Piper Sandler raised their target price on shares of First Hawaiian from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, April 27th. JPMorgan Chase & Co. cut their target price on shares of First Hawaiian from $29.00 to $25.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. Finally, Wells Fargo & Company raised their target price on shares of First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, March 30th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $27.56.

First Hawaiian Price Performance

The firm has a market capitalization of $3.45 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.08 and a beta of 0.74. The stock’s 50-day moving average price is $27.01 and its 200 day moving average price is $26.18.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, April 24th. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $220.35 million for the quarter, compared to analyst estimates of $223.59 million. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. During the same period last year, the company posted $0.47 earnings per share. Equities research analysts forecast that First Hawaiian, Inc. will post 2.33 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.7%. First Hawaiian’s dividend payout ratio (DPR) is 45.61%.

Institutional Trading of First Hawaiian

Institutional investors and hedge funds have recently made changes to their positions in the company. Elo Mutual Pension Insurance Co raised its holdings in shares of First Hawaiian by 94.2% in the third quarter. Elo Mutual Pension Insurance Co now owns 51,139 shares of the bank’s stock valued at $1,270,000 after acquiring an additional 24,805 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of First Hawaiian by 409.2% in the fourth quarter. SG Americas Securities LLC now owns 89,506 shares of the bank’s stock valued at $2,265,000 after acquiring an additional 71,927 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of First Hawaiian in the fourth quarter valued at about $1,243,000. Vanguard Group Inc. raised its holdings in shares of First Hawaiian by 2.5% in the fourth 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. Finally, Ruffer LLP bought a new stake in shares of First Hawaiian in the fourth quarter valued at about $3,028,000. 97.63% of the stock is currently owned by 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.