First Hawaiian (NASDAQ:FHB) Reaches New 12-Month High After Analyst Upgrade

First Hawaiian, Inc. (NASDAQ:FHB) shares reached a new 52-week high during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $27.00 to $30.00. The Goldman Sachs Group currently has a sell rating on the stock. First Hawaiian traded as high as $30.58 and last traded at $30.2960, with a volume of 43300 shares trading hands. The stock had previously closed at $30.34.

FHB has been the topic of a number of other reports. Piper Sandler upped their price target on First Hawaiian from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. TD Cowen raised their price target on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “hold” rating in a report on Tuesday, April 28th. Stephens set a $28.00 price objective on First Hawaiian in a research report on Monday, April 27th. Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $28.88.

Institutional Trading of First Hawaiian

Institutional investors have recently modified their holdings of the company. Illinois Municipal Retirement Fund boosted its position in shares of First Hawaiian by 0.6% during the first quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock worth $1,602,000 after buying an additional 397 shares during the period. Evolve Private Wealth LLC raised its position in First Hawaiian by 1.6% in the 1st quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock valued at $643,000 after buying an additional 406 shares during the last quarter. GAMMA Investing LLC lifted its stake in First Hawaiian by 9.4% in the 4th quarter. GAMMA Investing LLC now owns 5,626 shares of the bank’s stock valued at $142,000 after acquiring an additional 485 shares in the last quarter. Parallel Advisors LLC lifted its stake in First Hawaiian by 11.3% in the 1st quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock valued at $127,000 after acquiring an additional 525 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after acquiring an additional 534 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Performance

The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 2.20 and a beta of 0.72. The business has a 50-day simple moving average of $27.74 and a two-hundred day simple moving average of $26.54.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, April 24th. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. The business had revenue of $220.35 million for the quarter, compared to analyst estimates of $223.59 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, analysts expect that First Hawaiian, Inc. will post 2.34 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, May 18th. First Hawaiian’s payout ratio is presently 45.61%.

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.