First Hawaiian, Inc. (NASDAQ:FHB) to Issue Quarterly Dividend of $0.26

Key Points

• First Hawaiian, Inc. announced a quarterly dividend of $0.26 per share, with the payment date set for August 29th, representing an annualized yield of 4.07% and a payout ratio of 49.8% covered by earnings.
• In its latest earnings report, First Hawaiian reported $0.58 earnings per share, exceeding analysts' expectations of $0.49, indicating strong financial performance.
• Institutional investors hold a substantial 97.63% of First Hawaiian's stock, with various firms increasing their positions during the first quarter of the year.

First Hawaiian, Inc. (NASDAQ:FHB - Get Free Report) announced a quarterly dividend on Friday, July 25th, RTT News reports. Shareholders of record on Monday, August 18th will be paid a dividend of 0.26 per share by the bank on Friday, August 29th. This represents a $1.04 dividend on an annualized basis and a yield of 4.07%.

First Hawaiian has a dividend payout ratio of 49.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Hawaiian to earn $2.15 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 48.4%.

First Hawaiian Stock Up 1.3%

Shares of NASDAQ:FHB opened at $25.53 on Friday. First Hawaiian has a twelve month low of $20.32 and a twelve month high of $28.80. The stock's 50 day moving average is $24.59 and its 200-day moving average is $24.79. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 6.50 and a beta of 0.83.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.09. First Hawaiian had a return on equity of 8.99% and a net margin of 20.36%. During the same quarter in the prior year, the company posted $0.48 earnings per share. Equities research analysts anticipate that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FHB. United Services Automobile Association bought a new position in First Hawaiian in the first quarter valued at $201,000. Integrated Wealth Concepts LLC boosted its position in First Hawaiian by 9.3% during the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank's stock valued at $246,000 after buying an additional 856 shares during the period. Empowered Funds LLC boosted its position in First Hawaiian by 10.4% during the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank's stock valued at $401,000 after buying an additional 1,542 shares during the period. Royal Bank of Canada boosted its holdings in shares of First Hawaiian by 8.6% during the first quarter. Royal Bank of Canada now owns 165,337 shares of the bank's stock worth $4,041,000 after purchasing an additional 13,071 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of First Hawaiian by 1,034.4% during the first quarter. Jane Street Group LLC now owns 167,385 shares of the bank's stock worth $4,091,000 after purchasing an additional 152,630 shares during the period. Institutional investors own 97.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FHB shares. 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 report on Tuesday, July 1st. Keefe, Bruyette & Woods lowered their target price 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. Barclays reissued an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. Finally, Wells Fargo & Company upped their price target on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, First Hawaiian currently has an average rating of "Reduce" and a consensus price target of $27.64.

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.

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