Wells Fargo & Company Issues Positive Forecast for First Hawaiian (NASDAQ:FHB) Stock Price

First Hawaiian (NASDAQ:FHB) had its price target boosted by Wells Fargo & Company from $24.00 to $26.00 in a report published on Monday,Benzinga reports. They currently have an underweight rating on the bank’s stock.

A number of other research analysts have also recently issued reports on FHB. The Goldman Sachs Group set a $27.50 price target on shares of First Hawaiian and gave the company a “sell” rating in a research report on Tuesday, January 6th. Weiss Ratings upgraded shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Zacks Research downgraded shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, TD Cowen restated a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $27.79.

First Hawaiian Stock Down 0.2%

Shares of FHB stock opened at $24.13 on Monday. The business’s fifty day moving average is $25.61 and its 200 day moving average is $25.32. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 1.91 and a beta of 0.71. First Hawaiian has a twelve month low of $20.32 and a twelve month high of $28.35.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, January 30th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $225.85 million during the quarter, compared to analyst estimates of $225.33 million. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.During the same quarter last year, the firm posted $0.41 earnings per share. Equities research analysts expect 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 was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, February 13th. First Hawaiian’s dividend payout ratio is 47.27%.

Insiders Place Their Bets

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in shares of First Hawaiian by 74.9% during the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock valued at $25,000 after buying an additional 438 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in First Hawaiian in the 4th quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. lifted its position in First Hawaiian by 2,916.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,050 shares in the last quarter. Global Retirement Partners LLC boosted its stake in First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after purchasing an additional 534 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in First Hawaiian during the 4th quarter valued at $46,000. Institutional investors 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.