First Hawaiian (NASDAQ:FHB) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

First Hawaiian (NASDAQ:FHB - Free Report) had its price target increased by Wells Fargo & Company from $22.00 to $24.00 in a report released on Thursday,Benzinga reports. They currently have an underweight rating on the bank's stock.

A number of other equities research analysts have also recently commented on FHB. JPMorgan Chase & Co. increased their price objective 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. Barclays reiterated an "underweight" rating on shares of First Hawaiian in a report on Tuesday. Finally, 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. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, First Hawaiian currently has a consensus rating of "Reduce" and a consensus price target of $27.64.

First Hawaiian Stock Performance

First Hawaiian stock traded up $0.05 during trading hours on Thursday, reaching $26.21. 1,148,597 shares of the stock were exchanged, compared to its average volume of 766,152. The stock has a market cap of $3.30 billion, a P/E ratio of 14.24, a P/E/G ratio of 4.72 and a beta of 0.83. First Hawaiian has a 52-week low of $20.32 and a 52-week high of $28.80. The firm's 50 day moving average is $24.19 and its 200 day moving average is $24.82.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. First Hawaiian had a net margin of 20.36% and a return on equity of 8.99%. The business had revenue of $211.00 million for the quarter, compared to analysts' expectations of $210.24 million. During the same period in the prior year, the company posted $0.42 EPS. The business's revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts expect that First Hawaiian will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Monday, May 19th. First Hawaiian's dividend payout ratio (DPR) is 56.52%.

Institutional Trading of First Hawaiian

Several large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its stake in shares of First Hawaiian by 199.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank's stock worth $26,000 after buying an additional 705 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in First Hawaiian in the fourth quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in First Hawaiian in the first quarter worth about $44,000. Versant Capital Management Inc lifted its holdings in First Hawaiian by 65.1% in the first quarter. Versant Capital Management Inc now owns 3,128 shares of the bank's stock worth $76,000 after purchasing an additional 1,233 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in First Hawaiian by 26.0% in the first quarter. Parallel Advisors LLC now owns 4,462 shares of the bank's stock worth $109,000 after purchasing an additional 920 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.