First Hawaiian, Inc. (NASDAQ:FHB) Receives $26.71 Average Target Price from Brokerages

First Hawaiian, Inc. (NASDAQ:FHB) has earned an average recommendation of “Reduce” from the seven ratings firms that are currently covering the company, MarketBeat Ratings 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 1-year price target among brokers that have issued ratings on the stock in the last year is $26.86.

A number of research firms recently weighed in on FHB. The Goldman Sachs Group raised their target price on shares of First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a report on Tuesday, November 26th. Stephens started coverage on First Hawaiian in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price objective on the stock. Barclays boosted their target price on First Hawaiian from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on shares of First Hawaiian from $21.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of First Hawaiian from $25.00 to $27.00 and gave the company an “underweight” rating in a research report on Tuesday, December 17th.

Institutional Investors Weigh In On First Hawaiian

Several large investors have recently modified their holdings of the business. Whittier Trust Co. raised its position in shares of First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after acquiring an additional 507 shares in the last quarter. Blue Trust Inc. grew its stake in First Hawaiian by 51.5% in the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock valued at $43,000 after purchasing an additional 625 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in First Hawaiian in the third quarter valued at about $51,000. Quarry LP raised its holdings in First Hawaiian by 459.2% in the third quarter. Quarry LP now owns 2,483 shares of the bank’s stock worth $57,000 after purchasing an additional 2,039 shares in the last quarter. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of First Hawaiian by 32.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock valued at $55,000 after buying an additional 644 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

FHB stock opened at $25.48 on Thursday. The company has a market capitalization of $3.26 billion, a PE ratio of 14.56 and a beta of 0.98. The company’s fifty day moving average price is $26.25 and its 200-day moving average price is $23.92. First Hawaiian has a one year low of $19.48 and a one year high of $28.80.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Monday, November 18th. First Hawaiian’s payout ratio is 59.43%.

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.