Analysts Set First Hawaiian, Inc. (NASDAQ:FHB) PT at $29.00

First Hawaiian, Inc. (NASDAQ:FHB) has been given an average rating of “Reduce” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $29.00.

A number of brokerages have recently issued reports on FHB. The Goldman Sachs Group raised their price objective on First Hawaiian from $26.00 to $29.00 and gave the company a “sell” rating in a research note on Monday, February 3rd. Barclays raised their price target on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price target on First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Wells Fargo & Company increased their price objective on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd.

First Hawaiian Stock Up 0.6 %

Shares of NASDAQ:FHB opened at $24.44 on Friday. The firm has a market capitalization of $3.08 billion, a PE ratio of 13.65, a P/E/G ratio of 3.28 and a beta of 0.94. The company has a 50-day moving average price of $26.17 and a two-hundred day moving average price of $25.68. First Hawaiian has a twelve month low of $19.48 and a twelve month high of $28.80.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same period in the previous year, the firm posted $0.37 EPS. Analysts anticipate that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 4.26%. First Hawaiian’s dividend payout ratio is 58.10%.

Institutional Trading of First Hawaiian

A number of institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in First Hawaiian by 1.2% during the 3rd quarter. Wellington Management Group LLP now owns 686,701 shares of the bank’s stock valued at $15,897,000 after buying an additional 7,926 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of First Hawaiian in the third quarter worth $632,000. Jane Street Group LLC increased its position in First Hawaiian by 91.4% during the third quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock valued at $4,077,000 after acquiring an additional 84,120 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in First Hawaiian by 78.7% in the third quarter. BNP Paribas Financial Markets now owns 26,352 shares of the bank’s stock valued at $610,000 after acquiring an additional 11,604 shares during the period. Finally, FMR LLC boosted its position in First Hawaiian by 20.3% in the third quarter. FMR LLC now owns 913,400 shares of the bank’s stock worth $21,145,000 after purchasing an additional 154,136 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

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.