First Hawaiian (NASDAQ:FHB) Given New $27.00 Price Target at Piper Sandler

First Hawaiian (NASDAQ:FHB) had its price target trimmed by Piper Sandler from $28.00 to $27.00 in a report released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the bank’s stock.

Several other research analysts also recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Hawaiian in a report on Monday, December 29th. 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. JPMorgan Chase & Co. upped their target price on First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a report on Tuesday, December 16th. Barclays upgraded shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $26.00 to $28.00 in a report on Tuesday, November 11th. Finally, TD Cowen reduced their price objective on shares of First Hawaiian from $29.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, January 7th. Six analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, First Hawaiian has a consensus rating of “Reduce” and a consensus price target of $27.50.

First Hawaiian Price Performance

FHB opened at $26.38 on Monday. First Hawaiian has a fifty-two week low of $20.32 and a fifty-two week high of $28.35. The company’s 50 day moving average price is $26.19 and its two-hundred day moving average price is $25.27. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.87 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, January 30th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 $199.68 million during the quarter, compared to the consensus estimate of $225.33 million. During the same quarter last year, the firm earned $0.41 earnings per share. As a group, equities research analysts predict that First Hawaiian will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.04 annualized dividend and a dividend yield of 3.9%. First Hawaiian’s dividend payout ratio (DPR) is 47.27%.

Insider Activity

In related news, insider Alan Arizumi sold 36,460 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $25.35, for a total transaction of $924,261.00. Following the transaction, the insider directly owned 37,508 shares of the company’s stock, valued at $950,827.80. This represents a 49.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On First Hawaiian

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in First Hawaiian by 8.6% in the first 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 in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of First Hawaiian by 9.3% during 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 during the period. United Services Automobile Association bought a new position in shares of First Hawaiian in the 1st quarter worth $201,000. Empowered Funds LLC lifted its holdings in shares of First Hawaiian by 10.4% in the 1st quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock worth $401,000 after purchasing an additional 1,542 shares in 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 1st 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 during the period. 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.