First Hawaiian, Inc. (NASDAQ:FHB) Receives $21.50 Average PT from Brokerages

First Hawaiian, Inc. (NASDAQ:FHB) has been given an average recommendation of “Reduce” by the four ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.50.

A number of research analysts have recently commented on FHB shares. Barclays dropped their price target on First Hawaiian from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. decreased their price objective on First Hawaiian from $25.50 to $24.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Finally, Wells Fargo & Company decreased their price objective on First Hawaiian from $20.00 to $18.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th.

First Hawaiian Stock Performance

Shares of FHB opened at $26.10 on Monday. First Hawaiian has a 52 week low of $17.18 and a 52 week high of $26.18. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 15.00 and a beta of 0.99. The stock has a fifty day moving average of $21.31 and a 200-day moving average of $21.41.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, July 26th. The bank reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. First Hawaiian had a return on equity of 9.16% and a net margin of 19.20%. The company had revenue of $204.62 million during the quarter, compared to analysts’ expectations of $202.94 million. As a group, equities analysts forecast that First Hawaiian will post 1.71 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, August 19th. This represents a $1.04 dividend on an annualized basis and a yield of 3.98%. First Hawaiian’s payout ratio is currently 59.77%.

Institutional Trading of First Hawaiian

A number of large investors have recently bought and sold shares of FHB. Norges Bank acquired a new stake in First Hawaiian during the 4th quarter worth about $32,689,000. Hotchkis & Wiley Capital Management LLC grew its stake in shares of First Hawaiian by 124.3% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock valued at $58,079,000 after buying an additional 1,408,160 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of First Hawaiian by 17.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock valued at $103,082,000 after buying an additional 668,871 shares during the period. Reinhart Partners LLC. grew its stake in shares of First Hawaiian by 10.2% in the 4th quarter. Reinhart Partners LLC. now owns 2,251,009 shares of the bank’s stock valued at $51,458,000 after buying an additional 207,652 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in shares of First Hawaiian by 187.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 243,009 shares of the bank’s stock valued at $5,045,000 after buying an additional 158,327 shares during the period. 97.63% of the stock is currently 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.