First Hawaiian, Inc. (NASDAQ:FHB) Announces $0.26 Quarterly Dividend

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 Wednesday, July 23rd, RTT News reports. Stockholders 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 dividend yield of 4.16%. The ex-dividend date is Monday, August 18th.

First Hawaiian has a dividend payout ratio of 49.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.6%

FHB traded down $0.16 during trading on Tuesday, reaching $24.98. 485,187 shares of the company were exchanged, compared to its average volume of 879,638. The stock has a market cap of $3.14 billion, a P/E ratio of 12.87, a PEG ratio of 6.46 and a beta of 0.83. The firm has a 50 day moving average of $24.63 and a 200 day moving average of $24.79. First Hawaiian has a 52 week low of $20.32 and a 52 week high of $28.80.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on FHB shares. Wall Street Zen raised First Hawaiian from a "sell" rating to a "hold" rating in a research report on Saturday. Barclays restated an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their target price on First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Wells Fargo & Company raised their target price on First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods lowered their target price on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $27.64.

Institutional Investors Weigh In On First Hawaiian

Hedge funds and other institutional investors have recently made changes to their positions in the company. United Services Automobile Association acquired a new stake in shares of First Hawaiian during the first quarter worth $201,000. Integrated Wealth Concepts LLC grew its stake in First Hawaiian by 9.3% in the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank's stock valued at $246,000 after acquiring an additional 856 shares during the period. Empowered Funds LLC lifted its holdings in shares of First Hawaiian by 10.4% in the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank's stock valued at $401,000 after purchasing an additional 1,542 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of First Hawaiian by 8.6% in the first quarter. Royal Bank of Canada now owns 165,337 shares of the bank's stock valued at $4,041,000 after purchasing an additional 13,071 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of First Hawaiian by 1,034.4% in the first quarter. Jane Street Group LLC now owns 167,385 shares of the bank's stock valued at $4,091,000 after purchasing an additional 152,630 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

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.