First Hawaiian (NASDAQ:FHB) Price Target Lowered to $25.00 at JPMorgan Chase & Co.

First Hawaiian (NASDAQ:FHB) had its price target lowered by JPMorgan Chase & Co. from $29.00 to $25.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the bank’s stock.

FHB has been the topic of a number of other research reports. The Goldman Sachs Group set a $27.50 target price on First Hawaiian and gave the stock a “sell” rating in a research note on Tuesday, January 6th. Zacks Research lowered shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. TD Cowen restated a “hold” rating on shares of First Hawaiian in a report on Monday, February 2nd. Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Piper Sandler lowered their price objective on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, First Hawaiian currently has a consensus rating of “Reduce” and an average price target of $27.21.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $24.98 on Wednesday. The firm has a market capitalization of $3.07 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.95 and a beta of 0.71. The business has a 50 day simple moving average of $25.52 and a two-hundred day simple moving average of $25.31. First Hawaiian has a 1 year low of $20.32 and a 1 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 for the quarter, topping the consensus estimate of $0.55 by $0.01. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.The firm had revenue of $225.85 million for the quarter, compared to the consensus estimate of $225.33 million. During the same period in the prior year, the business posted $0.41 earnings per share. Equities research analysts expect that First Hawaiian will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. First Hawaiian’s dividend payout ratio is presently 47.27%.

Insider Activity at First Hawaiian

In other news, Director Craig Scott Wo sold 1,500 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $27.21, for a total transaction of $40,815.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of First Hawaiian

Hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its holdings in shares of First Hawaiian by 586.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,649 shares of the bank’s stock valued at $67,000 after purchasing an additional 2,263 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of First Hawaiian by 150.0% in the 4th quarter. Corient Private Wealth LLC now owns 39,366 shares of the bank’s stock worth $996,000 after purchasing an additional 23,622 shares during the period. Kera Capital Partners Inc. bought a new position in shares of First Hawaiian during the fourth quarter valued at approximately $360,000. Invesco Ltd. increased its holdings in First Hawaiian by 3.1% during the fourth quarter. Invesco Ltd. now owns 543,874 shares of the bank’s stock valued at $13,760,000 after buying an additional 16,454 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its holdings 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. 97.63% of the stock is owned by hedge funds and other institutional investors.

About First Hawaiian

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.