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

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

A number of research firms recently weighed in on FHB. Barclays raised their target price on shares of First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. downgraded First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 target price on the stock. in a research report on Monday, July 29th. Piper Sandler increased their price target on 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 boosted their price target on First Hawaiian from $18.00 to $22.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods upped their price objective on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

First Hawaiian Stock Performance

NASDAQ:FHB opened at $23.48 on Friday. The stock has a 50-day simple moving average of $22.54 and a 200 day simple moving average of $21.66. First Hawaiian has a 52-week low of $17.18 and a 52-week high of $26.18. The company has a market cap of $3.00 billion, a PE ratio of 13.49 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, July 26th. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. The firm had revenue of $204.62 million during the quarter, compared to the consensus estimate of $202.94 million. On average, research analysts predict that First Hawaiian will post 1.78 earnings per share for the current fiscal 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 given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Monday, August 19th. First Hawaiian’s dividend payout ratio (DPR) is presently 59.77%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of First Hawaiian in the fourth quarter valued at about $492,000. Nisa Investment Advisors LLC lifted its stake in First Hawaiian by 13.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,710 shares of the bank’s stock worth $359,000 after purchasing an additional 1,816 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of First Hawaiian in the 4th quarter valued at $395,000. Louisiana State Employees Retirement System acquired a new position in shares of First Hawaiian during the 4th quarter worth $1,458,000. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of First Hawaiian during the 4th quarter worth $417,000. 97.63% of the stock is owned by institutional investors and hedge funds.

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.