Analysts Set First Hawaiian, Inc. (NASDAQ:FHB) PT at $27.07

Key Points

• First Hawaiian, Inc. has received a consensus rating of "Strong Sell" from analysts, with four sell ratings and three hold ratings from seven brokerages.
• The stock's current price is $25.67, with a twelve-month target price averaging $27.07, reflecting analyst pessimism about its performance.
• First Hawaiian recently announced a quarterly dividend of $0.26 per share, yielding 4.1%, which is part of its strategy to return value to shareholders despite current market challenges.

Shares of First Hawaiian, Inc. (NASDAQ:FHB - Get Free Report) have received an average rating of "Strong Sell" from the seven ratings firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $27.0714.

A number of equities research analysts have recently issued reports on the stock. Barclays restated an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their target price on shares of First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Wall Street Zen raised First Hawaiian from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Wells Fargo & Company upped their price target on First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research report on Thursday, July 10th. Finally, Piper Sandler started coverage on First Hawaiian in a research report on Thursday, August 21st. They set a "neutral" rating and a $26.00 price objective for the company.

First Hawaiian Trading Down 1.7%

Shares of NASDAQ FHB traded down $0.44 during mid-day trading on Friday, reaching $25.23. The company had a trading volume of 337,526 shares, compared to its average volume of 905,501. The company has a 50-day moving average price of $25.15 and a two-hundred day moving average price of $24.33. The stock has a market cap of $3.14 billion, a PE ratio of 13.02, a P/E/G ratio of 6.22 and a beta of 0.89. First Hawaiian has a 1-year low of $20.32 and a 1-year high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.09. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%.The business had revenue of $217.54 million during the quarter, compared to analyst estimates of $214.67 million. During the same quarter last year, the company posted $0.48 EPS. On average, research analysts expect 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 was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.1%. First Hawaiian's payout ratio is presently 53.61%.

Institutional Investors Weigh In On First Hawaiian

A number of institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in First Hawaiian during the second quarter worth $35,362,000. Nuveen LLC bought a new stake in shares of First Hawaiian during the 1st quarter worth $16,248,000. The Manufacturers Life Insurance Company grew its stake in First Hawaiian by 3.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 10,493,396 shares of the bank's stock valued at $256,459,000 after buying an additional 360,088 shares during the last quarter. AQR Capital Management LLC grew its stake in First Hawaiian by 109.9% in the 2nd quarter. AQR Capital Management LLC now owns 666,946 shares of the bank's stock valued at $16,647,000 after buying an additional 349,231 shares during the last quarter. Finally, Reinhart Partners LLC. raised its holdings in First Hawaiian by 15.1% in the 1st quarter. Reinhart Partners LLC. now owns 2,325,881 shares of the bank's stock worth $56,845,000 after acquiring an additional 305,439 shares during the period. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Company Profile

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.