First Hawaiian (NASDAQ:FHB) Hits New 1-Year High – Here’s Why

First Hawaiian, Inc. (NASDAQ:FHB) reached a new 52-week high on Tuesday . The stock traded as high as $28.49 and last traded at $28.2860, with a volume of 144783 shares trading hands. The stock had previously closed at $27.54.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of First Hawaiian from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Stephens set a $28.00 target price on First Hawaiian in a research report on Monday, April 27th. JPMorgan Chase & Co. lowered their target price on shares of First Hawaiian from $29.00 to $25.00 and set an “underweight” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings raised shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Finally, Wells Fargo & Company increased their price target on First Hawaiian from $24.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $27.56.

First Hawaiian Trading Up 1.0%

The firm has a market capitalization of $3.38 billion, a P/E ratio of 12.20, a PEG ratio of 2.01 and a beta of 0.74. The business has a 50 day moving average of $26.59 and a 200-day moving average of $26.03.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, April 24th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $220.35 million during the quarter, compared to the consensus estimate of $223.59 million. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. During the same period last year, the business posted $0.47 EPS. On average, analysts anticipate that First Hawaiian, Inc. will post 2.33 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.7%. First Hawaiian’s payout ratio is 45.61%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FHB. Eurizon Capital SGR S.p.A. bought a new position in First Hawaiian in the 4th quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of First Hawaiian by 2,916.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after purchasing an additional 1,050 shares during the last quarter. Global Retirement Partners LLC lifted its stake in First Hawaiian by 45.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of First Hawaiian in the 4th quarter valued at approximately $46,000. Finally, Danske Bank A S acquired a new stake in First Hawaiian in the 3rd quarter valued at about $47,000. 97.63% of the stock is currently owned by 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.