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

First Hawaiian, Inc. (NASDAQ:FHB) has received a consensus recommendation of “Reduce” from the four brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $21.50.

A number of research firms have commented on FHB. JPMorgan Chase & Co. reduced their price target on First Hawaiian from $25.50 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Barclays reduced their target price 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. Finally, Wells Fargo & Company lowered their price target on shares of First Hawaiian from $20.00 to $18.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th.

Institutional Trading of First Hawaiian

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in First Hawaiian by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank’s stock worth $334,927,000 after purchasing an additional 87,304 shares during the period. The Manufacturers Life Insurance Company increased its position in First Hawaiian by 17.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock valued at $186,842,000 after purchasing an additional 1,561,662 shares during the period. Dimensional Fund Advisors LP raised its stake in 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 buying an additional 668,871 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in 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 buying an additional 1,408,160 shares during the period. Finally, Reinhart Partners LLC. boosted its position in First Hawaiian by 2.1% during the 1st quarter. Reinhart Partners LLC. now owns 2,299,222 shares of the bank’s stock valued at $50,491,000 after acquiring an additional 48,213 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

NASDAQ:FHB opened at $20.67 on Thursday. First Hawaiian has a 52 week low of $17.18 and a 52 week high of $23.22. The firm’s 50-day simple moving average is $20.92 and its 200 day simple moving average is $21.37. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 11.88 and a beta of 0.99.

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

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend was Friday, May 17th. First Hawaiian’s payout ratio is 59.77%.

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.