Brokerages Set First Hawaiian, Inc. (NASDAQ:FHB) PT at $27.50

First Hawaiian, Inc. (NASDAQ:FHB) has been assigned an average recommendation of “Reduce” from the nine research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $27.50.

Several research analysts have recently weighed in on the company. Piper Sandler lowered their price objective on First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Zacks Research downgraded First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. The Goldman Sachs Group set a $27.50 price target on First Hawaiian and gave the company a “sell” rating in a research note on Tuesday, January 6th. Weiss Ratings upgraded First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a research report on Monday, February 2nd.

First Hawaiian Price Performance

First Hawaiian stock opened at $23.82 on Friday. The firm has a market cap of $2.93 billion, a P/E ratio of 10.83, a P/E/G ratio of 1.89 and a beta of 0.71. The stock’s 50 day moving average is $26.11 and its 200 day moving average is $25.44. First Hawaiian has a one year low of $20.32 and a one year high of $28.35.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, January 30th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. The firm had revenue of $225.85 million for the quarter, compared to the consensus estimate of $225.33 million. During the same quarter in the previous year, the company earned $0.41 EPS. Equities 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 declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.26 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.04 annualized dividend and a yield of 4.4%. First Hawaiian’s dividend payout ratio is presently 47.27%.

Insider Activity at First Hawaiian

In related news, Director Craig Scott Wo sold 1,500 shares of First Hawaiian stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Hawaiian

A number of hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC increased its holdings in First Hawaiian by 150.0% during the 4th quarter. Corient Private Wealth LLC now owns 39,366 shares of the bank’s stock worth $996,000 after acquiring an additional 23,622 shares during the period. Kera Capital Partners Inc. bought a new position in shares of First Hawaiian in the fourth quarter worth $360,000. Invesco Ltd. raised its position in shares of First Hawaiian by 3.1% in the fourth quarter. Invesco Ltd. now owns 543,874 shares of the bank’s stock worth $13,760,000 after buying an additional 16,454 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in First Hawaiian by 41.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 44,243 shares of the bank’s stock valued at $1,119,000 after buying an additional 13,050 shares during the period. Finally, XTX Topco Ltd grew its position in First Hawaiian by 341.2% during the fourth quarter. XTX Topco Ltd now owns 135,286 shares of the bank’s stock worth $3,423,000 after buying an additional 104,623 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other 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.