First Hawaiian, Inc. (NASDAQ:FHB) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have been given an average rating of “Reduce” by the six research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $24.67.

A number of brokerages have recently weighed in on FHB. Piper Sandler boosted their price objective on shares of First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company lifted their target price on First Hawaiian from $18.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday, July 29th. Barclays increased their price target on shares of First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lowered shares of First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price target for the company. in a research report on Monday, July 29th. Finally, The Goldman Sachs Group upped their price objective on shares of First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a report on Monday, July 29th.

First Hawaiian Stock Performance

Shares of First Hawaiian stock opened at $23.46 on Tuesday. First Hawaiian has a one year low of $17.18 and a one year high of $26.18. The company has a 50-day simple moving average of $23.68 and a two-hundred day simple moving average of $21.97. The company has a market capitalization of $3.00 billion, a PE ratio of 13.48 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, July 26th. The bank reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. The company had revenue of $204.62 million during the quarter, compared to analysts’ expectations of $202.94 million. On average, equities analysts predict that First Hawaiian will post 1.79 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.04 dividend on an annualized basis and a yield of 4.43%. First Hawaiian’s payout ratio is 59.77%.

Hedge Funds Weigh In On First Hawaiian

Large investors have recently bought and sold shares of the business. Whittier Trust Co. raised its position in First Hawaiian by 68.7% during the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after acquiring an additional 507 shares during the period. Versant Capital Management Inc boosted its holdings in First Hawaiian by 55.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock worth $39,000 after buying an additional 678 shares during the last quarter. TFO Wealth Partners LLC increased its stake in First Hawaiian by 35,620.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,786 shares of the bank’s stock worth $41,000 after buying an additional 1,781 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of First Hawaiian during the first quarter valued at approximately $42,000. Finally, Abich Financial Wealth Management LLC raised its stake in First Hawaiian by 48.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock valued at $44,000 after purchasing an additional 652 shares during the last quarter. 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.