First Hawaiian (NASDAQ:FHB) Price Target Lowered to $24.00 at Barclays

First Hawaiian (NASDAQ:FHB) had its price objective cut by Barclays from $25.00 to $24.00 in a research report report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the bank’s stock.

First Hawaiian Price Performance

NASDAQ FHB opened at $20.49 on Monday. The company’s 50 day simple moving average is $20.96 and its 200 day simple moving average is $21.40. First Hawaiian has a 12 month low of $17.18 and a 12 month high of $23.22. The company has a market capitalization of $2.62 billion, a P/E ratio of 11.78 and a beta of 0.98.

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

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend was Friday, May 17th. First Hawaiian’s dividend payout ratio (DPR) is currently 59.77%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FHB. The Manufacturers Life Insurance Company increased its position in shares of First Hawaiian by 17.8% in the third quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock worth $186,842,000 after acquiring an additional 1,561,662 shares in the last quarter. Norges Bank purchased a new position in shares of First Hawaiian in the fourth quarter worth approximately $32,689,000. Hotchkis & Wiley Capital Management LLC increased its position in shares of First Hawaiian by 124.3% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock worth $58,079,000 after acquiring an additional 1,408,160 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of First Hawaiian by 17.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock worth $103,082,000 after acquiring an additional 668,871 shares in the last quarter. Finally, Reinhart Partners LLC. increased 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 worth $51,458,000 after acquiring an additional 207,652 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

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.