Analysts Set First Hawaiian, Inc. (NASDAQ:FHB) PT at $24.33

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have been given an average recommendation of “Reduce” by the seven ratings firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $25.43.

A number of brokerages recently issued reports on FHB. JPMorgan Chase & Co. decreased their target price on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 9th. Stephens began coverage on shares of First Hawaiian in a report on Wednesday. They issued an “equal weight” rating and a $30.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. Finally, The Goldman Sachs Group upped their target price on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a research report on Tuesday.

First Hawaiian Stock Performance

NASDAQ:FHB opened at $27.60 on Friday. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 15.77 and a beta of 0.96. First Hawaiian has a 1 year low of $18.85 and a 1 year high of $28.80. The business has a fifty day moving average of $24.99 and a 200-day moving average of $23.25.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.04 annualized dividend and a dividend yield of 3.77%. First Hawaiian’s dividend payout ratio is currently 59.43%.

Institutional Investors Weigh In On First Hawaiian

Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of First Hawaiian by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock worth $245,963,000 after buying an additional 122,599 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of First Hawaiian by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock valued at $108,057,000 after acquiring an additional 370,722 shares in the last quarter. American Century Companies Inc. boosted its stake in First Hawaiian by 6.5% in the 2nd quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after purchasing an additional 203,407 shares during the period. Reinhart Partners LLC. grew its position in First Hawaiian by 6.1% during the 3rd quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock worth $56,980,000 after purchasing an additional 141,327 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in First Hawaiian by 7.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,081,270 shares of the bank’s stock valued at $43,207,000 after purchasing an additional 139,291 shares during the period. 97.63% of the stock is owned by 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.