First Hawaiian (NASDAQ:FHB) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of First Hawaiian (NASDAQ:FHB) from an underweight rating to a neutral rating in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has $29.00 price objective on the bank’s stock, down from their prior price objective of $30.00.

Other analysts have also recently issued research reports about the stock. Zacks Research cut shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Weiss Ratings restated a “buy (b)” rating on shares of First Hawaiian in a research note on Monday, July 6th. Wells Fargo & Company decreased 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. Piper Sandler upped their price objective on First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a report on Sunday, September 27th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.38.

First Hawaiian Price Performance

FHB opened at $25.26 on Thursday. The company has a market capitalization of $3.07 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.57 and a beta of 0.76. The firm’s fifty day moving average price is $26.34 and its two-hundred day moving average price is $26.91. First Hawaiian has a fifty-two week low of $22.65 and a fifty-two week high of $30.58.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $231.27 million during the quarter, compared to analysts’ expectations of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same quarter in the prior year, the company posted $0.58 EPS. On average, equities research analysts expect that First Hawaiian will post 2.37 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors 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 4.1%. The ex-dividend date of this dividend was Monday, August 17th. First Hawaiian’s payout ratio is currently 45.22%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund increased its stake in First Hawaiian by 0.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock valued at $1,602,000 after buying an additional 397 shares during the last quarter. Evolve Private Wealth LLC boosted its stake in shares of First Hawaiian by 1.6% during the 1st quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock worth $643,000 after buying an additional 406 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of First Hawaiian by 17.9% during the 2nd quarter. IFP Advisors Inc now owns 3,231 shares of the bank’s stock worth $95,000 after buying an additional 491 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of First Hawaiian by 11.3% in the 1st quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock valued at $127,000 after acquiring an additional 525 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew 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 in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Company Profile

First Hawaiian, Inc is a bank holding company headquartered in Honolulu, Hawaii, and the parent company of First Hawaiian Bank. Founded in 1858, First Hawaiian Bank is one of the oldest financial institutions in Hawaii and provides banking services to consumers, businesses, and government and institutional customers.

First Hawaiian Bank offers a range of financial products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, credit cards, treasury management, online and mobile banking, and wealth management services.