First Hawaiian (NASDAQ:FHB) Hits New 52-Week Low at $23.44

Shares of First Hawaiian, Inc. (NASDAQ:FHBGet Rating) hit a new 52-week low during trading on Monday . The company traded as low as $23.44 and last traded at $23.49, with a volume of 851 shares traded. The stock had previously closed at $24.00.

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods downgraded shares of First Hawaiian from an “outperform” rating to a “market perform” rating and set a $34.00 target price on the stock. in a research note on Sunday, April 24th. StockNews.com downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Monday, May 23rd. Finally, Wells Fargo & Company reduced their target price on shares of First Hawaiian from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.50.

The business’s 50 day moving average price is $25.71 and its 200-day moving average price is $27.39. The firm has a market capitalization of $3.00 billion, a PE ratio of 11.65 and a beta of 1.12.

First Hawaiian (NASDAQ:FHBGet Rating) last released its quarterly earnings results on Friday, April 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. First Hawaiian had a net margin of 36.22% and a return on equity of 10.76%. During the same period in the prior year, the business posted $0.44 EPS. Equities research analysts forecast that First Hawaiian, Inc. will post 1.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 3rd. Investors of record on Monday, May 23rd were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Friday, May 20th. First Hawaiian’s dividend payout ratio (DPR) is currently 50.49%.

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in First Hawaiian by 3.0% during the 4th quarter. BlackRock Inc. now owns 16,879,857 shares of the bank’s stock worth $461,326,000 after acquiring an additional 493,405 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in First Hawaiian by 70.9% during the 4th quarter. JPMorgan Chase & Co. now owns 8,206,468 shares of the bank’s stock worth $224,284,000 after acquiring an additional 3,403,610 shares in the last quarter. American Century Companies Inc. grew its holdings in First Hawaiian by 30.1% during the 1st quarter. American Century Companies Inc. now owns 6,794,188 shares of the bank’s stock worth $189,490,000 after acquiring an additional 1,570,922 shares in the last quarter. State Street Corp grew its holdings in First Hawaiian by 11.1% during the 1st quarter. State Street Corp now owns 6,220,533 shares of the bank’s stock worth $173,491,000 after acquiring an additional 622,623 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in First Hawaiian by 6.4% during the 4th quarter. Alliancebernstein L.P. now owns 3,534,775 shares of the bank’s stock worth $96,605,000 after acquiring an additional 211,261 shares in the last quarter.

About First Hawaiian (NASDAQ:FHB)

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, including checking and savings accounts, and other deposit accounts.

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