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

First Hawaiian, Inc. (NASDAQ:FHB) has earned a consensus recommendation of “Reduce” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $26.86.

Several research analysts have recently commented on FHB shares. JPMorgan Chase & Co. lifted their price target on shares of First Hawaiian from $25.00 to $27.00 and gave the company an “underweight” rating in a report on Tuesday, December 17th. Keefe, Bruyette & Woods lifted their target price on First Hawaiian from $25.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Barclays increased their price target on First Hawaiian from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their price objective on First Hawaiian from $21.00 to $22.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Finally, Stephens began coverage on First Hawaiian in a research report on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 target price on the stock.

Hedge Funds Weigh In On First Hawaiian

Several large investors have recently bought and sold shares of FHB. Blue Trust Inc. boosted its holdings in shares of 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 acquiring an additional 625 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in First Hawaiian in the third quarter worth approximately $51,000. Abich Financial Wealth Management LLC lifted its position in First Hawaiian by 32.5% in the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock worth $55,000 after purchasing an additional 644 shares during the period. Quarry LP boosted its stake in First Hawaiian by 459.2% during the 3rd quarter. Quarry LP now owns 2,483 shares of the bank’s stock valued at $57,000 after purchasing an additional 2,039 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of First Hawaiian by 49.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,163 shares of the bank’s stock valued at $73,000 after purchasing an additional 1,041 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Price Performance

Shares of FHB opened at $24.76 on Monday. The stock has a market capitalization of $3.17 billion, a PE ratio of 14.15 and a beta of 0.99. The business’s fifty day moving average price is $26.64 and its 200 day moving average price is $24.54. First Hawaiian has a 12-month low of $19.48 and a 12-month high of $28.80.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were paid a $0.26 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.20%. 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.