First Hawaiian, Inc. (NASDAQ:FHB) Receives Average Recommendation of “Reduce” from Analysts

First Hawaiian, Inc. (NASDAQ:FHB) has been given an average rating of “Reduce” by the eleven research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $30.25.

FHB has been the subject of a number of research reports. Piper Sandler boosted their price target on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Benchmark restated a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. The Goldman Sachs Group lifted their price objective on shares of First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a report on Tuesday, July 7th. TD Cowen cut their target price on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Wednesday, July 29th. Finally, Barclays increased their target price on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th.

Hedge Funds Weigh In On First Hawaiian

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of First Hawaiian in the 2nd quarter valued at $483,971,000. California State Teachers Retirement System grew its holdings in shares of First Hawaiian by 2,436.8% during the 2nd quarter. California State Teachers Retirement System now owns 4,117,676 shares of the bank’s stock valued at $120,648,000 after purchasing an additional 3,955,356 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in First Hawaiian in the 2nd quarter worth $62,568,000. Bank of America Corp DE purchased a new position in First Hawaiian in the 2nd quarter worth $53,105,000. Finally, Norges Bank bought a new stake in First Hawaiian in the fourth quarter worth $40,281,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Up 0.3%

Shares of NASDAQ FHB opened at $25.75 on Friday. The firm has a market capitalization of $3.13 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.62 and a beta of 0.72. The stock’s 50-day simple moving average is $27.54 and its two-hundred day simple moving average is $26.86. First Hawaiian has a twelve month low of $22.65 and a twelve month high of $30.58.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $231.27 million during the quarter, compared to analyst estimates of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same quarter in the previous year, the firm earned $0.58 earnings per share. As a group, research analysts anticipate that First Hawaiian will post 2.34 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 17th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, August 17th. First Hawaiian’s dividend payout ratio is presently 45.22%.

First Hawaiian Company Profile

First Hawaiian, Inc (NASDAQ: FHB) is the holding company for First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858 as Bishop & Company, First Hawaiian Bank is the oldest bank in Hawaii and provides banking and financial services to consumers, businesses and government organizations.

The bank offers deposit accounts, residential and commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.