First Hawaiian, Inc. (NASDAQ:FHB) Receives $29.25 Average Target Price from Brokerages

First Hawaiian, Inc. (NASDAQ:FHB) has been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $29.25.

A number of analysts have recently weighed in on the stock. TD Cowen increased their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Tuesday, April 28th. Barclays boosted their price target on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Zacks Research raised First Hawaiian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Hawaiian in a report on Monday, July 6th. Finally, Benchmark reiterated a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th.

First Hawaiian News Roundup

Here are the key news stories impacting First Hawaiian this week:

• Positive Sentiment: Zacks Research upgraded First Hawaiian (FHB) from hold to strong-buy, which can signal improving analyst confidence in the stock’s outlook.
• Positive Sentiment: Zacks highlighted FHB on its Strong Buy income and value stock lists, reinforcing the idea that the bank screens well on both yield and valuation measures.
• Positive Sentiment: A Zacks preview article said First Hawaiian has a strong earnings surprise track record and appears positioned to potentially beat estimates again in its upcoming quarterly report.
• Positive Sentiment: FHB was also included in a market roundup of regional bank stocks trading higher, suggesting broader sector strength may be helping sentiment.
• Neutral Sentiment: Investors are awaiting First Hawaiian’s quarterly earnings release, which could be a near-term catalyst depending on results and guidance. First Hawaiian (FHB) Expected to Announce Quarterly Earnings on Friday
• Negative Sentiment: Monteverde & Associates said it is investigating First Hawaiian’s merger with TriCo Bancshares, which introduces legal and deal-related uncertainty. Shareholder Alert: The M&A Class Action Firm Announces An Investigation of First Hawaiian, Inc. (NASDAQ: FHB)

First Hawaiian Price Performance

Shares of First Hawaiian stock opened at $29.29 on Friday. First Hawaiian has a one year low of $22.65 and a one year high of $30.58. The business’s 50 day simple moving average is $28.15 and its two-hundred day simple moving average is $26.74. The stock has a market capitalization of $3.56 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.60 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.The firm had revenue of $220.35 million during the quarter, compared to analyst estimates of $223.59 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Sell-side analysts expect that First Hawaiian will post 2.38 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.04 dividend on an annualized basis and a yield of 3.6%. First Hawaiian’s dividend payout ratio (DPR) is presently 45.61%.

Institutional Trading of First Hawaiian

Several large investors have recently added to or reduced their stakes in the stock. Oak Thistle LLC bought a new stake in shares of First Hawaiian during the 4th quarter valued at about $1,243,000. SG Americas Securities LLC increased its position in shares of First Hawaiian by 409.2% during the fourth quarter. SG Americas Securities LLC now owns 89,506 shares of the bank’s stock valued at $2,265,000 after buying an additional 71,927 shares during the period. Vanguard Group Inc. raised its stake in First Hawaiian by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock worth $365,777,000 after buying an additional 358,632 shares in the last quarter. Ruffer LLP bought a new position in First Hawaiian in the fourth quarter worth about $3,028,000. Finally, UBS Group AG raised its stake in First Hawaiian by 176.0% in the fourth quarter. UBS Group AG now owns 1,128,002 shares of the bank’s stock worth $28,538,000 after buying an additional 719,312 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

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.