First Hawaiian (NASDAQ:FHB) Sees Strong Trading Volume – What’s Next?

Shares of First Hawaiian, Inc. (NASDAQ:FHB) saw strong trading volume on Tuesday . 1,411,020 shares changed hands during trading, a decline of 16% from the previous session’s volume of 1,681,465 shares.The stock last traded at $28.8020 and had previously closed at $29.14.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FHB shares. Wall Street Zen cut First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Wells Fargo & Company boosted their target price on shares of First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Benchmark reissued a “hold” rating on shares of First Hawaiian in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Finally, Piper Sandler boosted their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, First Hawaiian presently has an average rating of “Reduce” and a consensus target price of $29.25.

First Hawaiian Stock Up 0.8%

The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.56 and a beta of 0.72. The company’s 50 day moving average price is $28.06 and its 200 day moving average price is $26.69.

First Hawaiian (NASDAQ:FHB) last released 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. 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 for the quarter, compared to the consensus estimate of $223.59 million. During the same period in the prior year, the firm earned $0.47 EPS. As a group, analysts expect that First Hawaiian, Inc. will post 2.37 earnings per share for the current year.

First Hawaiian Announces Dividend

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

Institutional Investors Weigh In On First Hawaiian

A number of institutional investors and hedge funds have recently modified their holdings of FHB. Eurizon Capital SGR S.p.A. purchased a new position in First Hawaiian during the 4th quarter worth approximately $26,000. Elevation Wealth Partners LLC boosted its holdings in shares of First Hawaiian by 378.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock valued at $27,000 after acquiring an additional 738 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of First Hawaiian by 2,916.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,050 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of First Hawaiian by 45.7% in the fourth 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 period. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of First Hawaiian in the fourth quarter worth $46,000. 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.