Brokerages Set First Hawaiian, Inc. (NASDAQ:FHB) Target Price at $24.33

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have been given a consensus recommendation of “Reduce” by the six research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $24.67.

FHB has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their price target on First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Monday, October 28th.

First Hawaiian Stock Down 1.7 %

FHB stock opened at $27.68 on Friday. The business has a 50 day moving average price of $24.84 and a two-hundred day moving average price of $23.19. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 15.82 and a beta of 0.96. First Hawaiian has a twelve month low of $18.77 and a twelve month high of $28.80.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.76%. First Hawaiian’s dividend payout ratio (DPR) is currently 59.43%.

Hedge Funds Weigh In On First Hawaiian

A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in shares of First Hawaiian by 1.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock worth $245,963,000 after buying an additional 122,599 shares in the last quarter. Dimensional Fund Advisors LP grew its position in First Hawaiian by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock worth $108,057,000 after acquiring an additional 370,722 shares during the last quarter. American Century Companies Inc. grew its position in First Hawaiian by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after acquiring an additional 203,407 shares during the last quarter. Reinhart Partners LLC. grew its position in First Hawaiian by 6.1% during the 3rd quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock worth $56,980,000 after acquiring an additional 141,327 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in First Hawaiian by 7.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,081,270 shares of the bank’s stock worth $43,207,000 after acquiring an additional 139,291 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.