First Hawaiian (NASDAQ:FHB) PT Lowered to $24.00 at JPMorgan Chase & Co.

First Hawaiian (NASDAQ:FHB) had its price objective cut by JPMorgan Chase & Co. from $25.50 to $24.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the bank’s stock.

Other research analysts have also recently issued reports about the company. Barclays lowered their price target on First Hawaiian from $25.00 to $24.00 and set an equal weight rating on the stock in a report on Monday, June 24th. Wells Fargo & Company decreased their price objective on First Hawaiian from $20.00 to $18.00 and set an underweight rating on the stock in a research report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Reduce and a consensus price target of $21.50.

First Hawaiian Stock Performance

Shares of First Hawaiian stock opened at $20.76 on Thursday. First Hawaiian has a 52-week low of $17.18 and a 52-week high of $23.22. The stock has a market capitalization of $2.65 billion, a PE ratio of 11.93 and a beta of 0.98. The company has a 50-day simple moving average of $20.94 and a two-hundred day simple moving average of $21.38.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, April 26th. The bank reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. First Hawaiian had a return on equity of 9.16% and a net margin of 19.20%. The firm had revenue of $205.80 million for the quarter, compared to the consensus estimate of $202.41 million. As a group, equities research analysts forecast that First Hawaiian will post 1.71 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend was Friday, May 17th. First Hawaiian’s payout ratio is 59.77%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in First Hawaiian during the fourth quarter worth approximately $32,689,000. Hotchkis & Wiley Capital Management LLC grew its stake in First Hawaiian by 124.3% during 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 acquiring an additional 1,408,160 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in First Hawaiian by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock worth $103,082,000 after buying an additional 668,871 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of First Hawaiian during the 4th quarter valued at about $1,880,000. Finally, Pinebridge Investments L.P. grew its stake in shares of First Hawaiian by 101.0% in the 4th quarter. Pinebridge Investments L.P. now owns 136,217 shares of the bank’s stock valued at $3,114,000 after buying an additional 68,457 shares during the period. Hedge funds and other institutional investors 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.