First Hawaiian (NASDAQ:FHB) Reaches New 1-Year High at $23.28

Shares of First Hawaiian, Inc. (NASDAQ:FHB) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $23.28 and last traded at $23.23, with a volume of 217889 shares trading hands. The stock had previously closed at $22.44.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays decreased their price objective on First Hawaiian from $25.00 to $24.00 and set an “equal weight” rating for the company 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 for the company in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. reduced their price target on First Hawaiian from $25.50 to $24.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $21.50.

First Hawaiian Trading Up 3.7 %

The company has a market cap of $2.98 billion, a price-to-earnings ratio of 13.02 and a beta of 0.99. The business has a fifty day moving average of $20.81 and a two-hundred day moving average of $21.26.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, April 26th. The bank reported $0.42 earnings per share 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 company had revenue of $205.80 million during the quarter, compared to analysts’ expectations of $202.41 million. On average, research analysts forecast that First Hawaiian, Inc. will post 1.71 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, May 17th. This represents a $1.04 annualized dividend and a yield of 4.47%. First Hawaiian’s dividend payout ratio (DPR) is currently 59.77%.

Institutional Investors Weigh In On First Hawaiian

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of First Hawaiian by 22.1% in the third quarter. Wellington Management Group LLP now owns 346,706 shares of the bank’s stock valued at $6,258,000 after purchasing an additional 62,762 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of First Hawaiian by 7.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 81,435 shares of the bank’s stock valued at $1,470,000 after purchasing an additional 5,482 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of First Hawaiian in the fourth quarter valued at approximately $352,000. Raymond James & Associates grew its position in shares of First Hawaiian by 1.9% in the fourth quarter. Raymond James & Associates now owns 928,197 shares of the bank’s stock valued at $21,219,000 after purchasing an additional 17,431 shares in the last quarter. Finally, Reinhart Partners LLC. grew its position in shares of First Hawaiian by 10.2% in the fourth quarter. Reinhart Partners LLC. now owns 2,251,009 shares of the bank’s stock valued at $51,458,000 after purchasing an additional 207,652 shares in the last quarter. 97.63% of the stock is currently 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.