First Hawaiian (NASDAQ:FHB) Price Target Raised to $24.00 at Wells Fargo & Company

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

A number of other analysts have also recently weighed in on the stock. Barclays reiterated an "underweight" rating on shares of First Hawaiian in a research note on Tuesday. Keefe, Bruyette & Woods reduced their target price on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $27.64.

First Hawaiian Stock Down 1.3%

NASDAQ:FHB traded down $0.34 during trading hours on Thursday, reaching $25.87. 1,005,971 shares of the company's stock were exchanged, compared to its average volume of 766,238. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 4.73 and a beta of 0.83. The company has a 50-day moving average of $24.30 and a 200 day moving average of $24.82. 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 issued 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. The firm had revenue of $211.00 million during the quarter, compared to analysts' expectations of $210.24 million. First Hawaiian had a net margin of 20.36% and a return on equity of 8.99%. First Hawaiian's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. Research analysts forecast that First Hawaiian will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Monday, May 19th. First Hawaiian's dividend payout ratio (DPR) is presently 56.52%.

Hedge Funds Weigh In On First Hawaiian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings 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 acquiring an additional 360,088 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in First Hawaiian by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,786,438 shares of the bank's stock worth $141,417,000 after purchasing an additional 122,013 shares during the period. Alliancebernstein L.P. boosted its position in First Hawaiian by 19.7% during the 4th quarter. Alliancebernstein L.P. now owns 5,244,211 shares of the bank's stock worth $136,087,000 after purchasing an additional 864,420 shares during the period. Reinhart Partners LLC. raised its stake in shares of First Hawaiian by 0.7% during the second quarter. Reinhart Partners LLC. now owns 2,343,300 shares of the bank's stock valued at $58,489,000 after purchasing an additional 17,419 shares during the period. Finally, Northern Trust Corp raised its stake in shares of First Hawaiian by 2.1% during the first quarter. Northern Trust Corp now owns 2,233,354 shares of the bank's stock valued at $54,583,000 after purchasing an additional 45,349 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.