First Hawaiian (NASDAQ:FHB) Hits New 12-Month High – Here’s Why

First Hawaiian, Inc. (NASDAQ:FHB) reached a new 52-week high during trading on Monday . The company traded as high as $28.78 and last traded at $28.70, with a volume of 22358 shares trading hands. The stock had previously closed at $27.90.

Wall Street Analyst Weigh In

FHB has been the subject of several research analyst reports. Barclays upped their price target on shares of First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Piper Sandler lifted their price target on shares of First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Wells Fargo & Company raised their price objective on First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods boosted their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $24.33.

First Hawaiian Trading Up 1.6 %

The company has a market cap of $3.62 billion, a P/E ratio of 15.94 and a beta of 0.96. The company’s 50-day moving average price is $24.66 and its two-hundred day moving average price is $23.10.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s dividend payout ratio (DPR) is presently 59.43%.

Institutional Trading of First Hawaiian

Hedge funds have recently bought and sold shares of the company. Whittier Trust Co. grew its stake in First Hawaiian by 68.7% during the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after acquiring an additional 507 shares in the last quarter. Versant Capital Management Inc increased its stake in First Hawaiian by 55.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $39,000 after buying an additional 678 shares during the period. Blue Trust Inc. boosted its stake in shares of First Hawaiian by 51.5% during the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock valued at $43,000 after buying an additional 625 shares during the period. GAMMA Investing LLC grew its holdings in shares of First Hawaiian by 50.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,122 shares of the bank’s stock valued at $44,000 after acquiring an additional 710 shares in the last quarter. Finally, Abich Financial Wealth Management LLC increased its stake in shares of First Hawaiian by 48.9% in the first quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock worth $44,000 after acquiring an additional 652 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

About First Hawaiian

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.