First Hawaiian, Inc. (NASDAQ:FHB) Stock Has Average Target Price of $30.25

Key Points

• Analysts remain cautious on First Hawaiian: Eleven analysts give the stock a consensus “Reduce” rating, with three sells, six holds and two buys. The average 12-month price target is $30.25 versus the reported share price of $24.82.
• Institutional ownership is substantial: Institutional investors hold 97.63% of First Hawaiian’s shares, with BlackRock and other major investment firms recently establishing or expanding positions.
• Quarterly results and dividend were solid: The bank reported $0.60 in quarterly EPS, exceeding estimates of $0.58, and revenue of $231.27 million. It also paid a quarterly dividend of $0.26 per share, equivalent to a 4.2% annualized yield.

First Hawaiian, Inc. (NASDAQ:FHB - Get Free Report) has been assigned a consensus rating of "Reduce" from the eleven analysts that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $30.25.

A number of equities research analysts have recently commented on FHB shares. TD Cowen cut their price target on shares of First Hawaiian from $32.00 to $31.00 and set a "hold" rating on the stock in a report on Wednesday, July 29th. Zacks Research lowered shares of First Hawaiian from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Wall Street Zen raised First Hawaiian from a "sell" rating to a "hold" rating in a research report on Sunday. JPMorgan Chase & Co. increased their target price on First Hawaiian from $27.00 to $31.00 and gave the company an "underweight" rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company lifted their target price on First Hawaiian from $26.00 to $28.00 and gave the stock an "underweight" rating in a report on Monday, July 6th.

Institutional Investors Weigh In On First Hawaiian

Several large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in First Hawaiian during the 2nd quarter valued at about $483,971,000. Dimensional Fund Advisors LP grew its stake in shares of First Hawaiian by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,693,630 shares of the bank's stock worth $164,927,000 after acquiring an additional 313,362 shares during the period. Reinhart Partners LLC. raised its holdings in shares of First Hawaiian by 0.7% during the second quarter. Reinhart Partners LLC. now owns 2,660,876 shares of the bank's stock valued at $77,964,000 after purchasing an additional 18,977 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of First Hawaiian during the second quarter valued at approximately $62,568,000. Finally, Bank of America Corp DE bought a new position in First Hawaiian during the second quarter valued at approximately $53,105,000. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Price Performance

FHB opened at $24.82 on Wednesday. The firm has a market cap of $3.02 billion, a PE ratio of 10.79, a P/E/G ratio of 1.56 and a beta of 0.72. The stock has a 50-day moving average price of $26.56 and a 200-day moving average price of $26.91. First Hawaiian has a 1 year low of $22.65 and a 1 year high of $30.58.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same period in the prior year, the firm posted $0.58 EPS. As a group, sell-side analysts anticipate that First Hawaiian will post 2.37 EPS for the current year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 annualized dividend and a dividend yield of 4.2%. First Hawaiian's dividend payout ratio (DPR) is 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.

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