Analysts Set First Hawaiian, Inc. (NASDAQ:FHB) PT at $27.64

Key Points

• First Hawaiian, Inc. has received an average rating of "Strong Sell" from seven brokerages, with four analysts recommending a sell and three a hold.
• The company recently reported EPS of $0.58 for the quarter, surpassing estimates of $0.49, and had revenue of $217.54 million, exceeding analyst expectations.
• First Hawaiian announced a quarterly dividend of $0.26 per share with an annualized yield of 4.3%, reflecting a payout ratio of 53.61%.

First Hawaiian, Inc. (NASDAQ:FHB - Get Free Report) has been assigned an average rating of "Strong Sell" from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $27.6429.

A number of equities analysts have recently commented on the stock. Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Wall Street Zen raised shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods cut their price objective on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company lifted their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a report on Tuesday, July 1st.

First Hawaiian Stock Up 0.8%

First Hawaiian stock traded up $0.19 during midday trading on Friday, reaching $23.92. The stock had a trading volume of 127,624 shares, compared to its average volume of 885,272. First Hawaiian has a 52-week low of $20.32 and a 52-week high of $28.80. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 5.84 and a beta of 0.84. The company has a fifty day moving average of $24.68 and a 200 day moving average of $24.75.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.09. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. The company had revenue of $217.54 million for the quarter, compared to analyst estimates of $214.67 million. During the same period in the prior year, the company posted $0.48 EPS. Equities research analysts predict that First Hawaiian will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.3%. First Hawaiian's payout ratio is 53.61%.

Institutional Investors Weigh In On First Hawaiian

A number of large investors have recently made changes to their positions in the stock. Voya Investment Management LLC grew its holdings in shares of First Hawaiian by 2.9% during the first quarter. Voya Investment Management LLC now owns 15,918 shares of the bank's stock valued at $389,000 after buying an additional 448 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in First Hawaiian by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 36,493 shares of the bank's stock valued at $892,000 after purchasing an additional 521 shares during the period. Covestor Ltd raised its position in shares of First Hawaiian by 8.1% in the fourth quarter. Covestor Ltd now owns 7,226 shares of the bank's stock worth $188,000 after acquiring an additional 539 shares during the period. Evergreen Capital Management LLC raised its position in shares of First Hawaiian by 1.8% in the fourth quarter. Evergreen Capital Management LLC now owns 37,260 shares of the bank's stock worth $967,000 after acquiring an additional 649 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of First Hawaiian by 5.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,340 shares of the bank's stock worth $308,000 after purchasing an additional 672 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

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.