First Hawaiian (NASDAQ:FHB) Price Target Raised to $29.00 at JPMorgan Chase & Co.

First Hawaiian (NASDAQ:FHB) had its price target boosted by JPMorgan Chase & Co. from $28.00 to $29.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an underweight rating on the bank’s stock.

A number of other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group set a $27.50 target price on First Hawaiian and gave the stock a “sell” rating in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Hawaiian in a research note on Monday, December 29th. TD Cowen reissued a “hold” rating on shares of First Hawaiian in a research note on Monday. Finally, Zacks Research cut shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $27.50.

First Hawaiian Stock Down 0.6%

First Hawaiian stock opened at $26.38 on Monday. The business’s 50-day simple moving average is $26.19 and its 200 day simple moving average is $25.27. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 1.87 and a beta of 0.73. First Hawaiian has a 12-month low of $20.32 and a 12-month high of $28.35.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $199.68 million for the quarter, compared to the consensus estimate of $225.33 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same period in the prior year, the company posted $0.41 EPS. As a group, sell-side analysts expect that First Hawaiian will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 3.9%. First Hawaiian’s dividend payout ratio is presently 47.27%.

Insider Activity

In other news, insider Alan Arizumi sold 6,566 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.34, for a total value of $166,382.44. Following the sale, the insider directly owned 1,962 shares in the company, valued at $49,717.08. The trade was a 76.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Hawaiian

A number of hedge funds and other institutional investors have recently bought and sold shares of FHB. Royal Bank of Canada boosted its position in First Hawaiian by 8.6% during the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock worth $4,041,000 after acquiring an additional 13,071 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of First Hawaiian by 9.3% in the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock worth $246,000 after purchasing an additional 856 shares in the last quarter. United Services Automobile Association acquired a new position in First Hawaiian during the first quarter worth $201,000. Empowered Funds LLC boosted its holdings in First Hawaiian by 10.4% during the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock worth $401,000 after purchasing an additional 1,542 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in First Hawaiian by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock valued at $10,389,000 after purchasing an additional 31,686 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

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.