First Hawaiian, Inc. (NASDAQ:FHB) Stock Has Average Price Target of $29.00 According to Brokerages

First Hawaiian, Inc. (NASDAQ:FHB) has earned an average recommendation of “Hold” from the ten ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $29.00.

Several research analysts recently weighed in on FHB shares. Piper Sandler increased their target price on First Hawaiian from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday. The Goldman Sachs Group boosted their price target on First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, July 7th. Wall Street Zen lowered First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Wells Fargo & Company cut their price objective on First Hawaiian from $28.00 to $26.00 and set an “underweight” rating on the stock in a report on Wednesday, September 30th. Finally, Zacks Research cut First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th.

Institutional Trading of First Hawaiian

A number of institutional investors have recently made changes to their positions in the stock. Elevation Wealth Partners LLC raised its holdings in First Hawaiian by 378.5% during the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after purchasing an additional 738 shares in the last quarter. Anchor Investment Management LLC acquired a new stake in First Hawaiian in the second quarter worth approximately $30,000. Pension & Wealth Management Advisors Inc. bought a new position in First Hawaiian during the 3rd quarter valued at $30,000. Root Financial Partners LLC bought a new position in First Hawaiian during the 3rd quarter valued at $31,000. Finally, Global Retirement Partners LLC acquired a new position in shares of First Hawaiian during the 2nd quarter valued at $51,000. 97.63% of the stock is owned by institutional investors and hedge funds.

First Hawaiian Price Performance

Shares of NASDAQ FHB opened at $25.63 on Friday. First Hawaiian has a 1-year low of $23.26 and a 1-year high of $30.58. The business’s 50 day moving average is $25.39 and its two-hundred day moving average is $26.55. The stock has a market capitalization of $3.12 billion, a P/E ratio of 11.49, a PEG ratio of 1.35 and a beta of 0.76.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, October 23rd. The bank reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.07). The firm had revenue of $230.23 million for the quarter, compared to analyst estimates of $229.20 million. First Hawaiian had a net margin of 23.73% and a return on equity of 9.83%. During the same period in the previous year, the company earned $0.59 EPS. As a group, equities research analysts anticipate that First Hawaiian will post 2.32 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 16th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.1%. First Hawaiian’s dividend payout ratio (DPR) is presently 46.64%.

First Hawaiian Company Profile

First Hawaiian, Inc is the parent company of First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858, First Hawaiian Bank is the oldest bank in Hawaii and serves consumers, businesses, and government entities across the Pacific.

The bank provides a broad range of financial products and services, including checking and savings accounts, consumer and residential loans, commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.