First Hawaiian, Inc. (NASDAQ:FHB) Stock Has Average Price Target of $30.25 According to Brokerages

Shares of First Hawaiian, Inc. (NASDAQ:FHB – Get Free Report) have been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $29.38.

Several brokerages have recently weighed in on FHB. JPMorgan Chase & Co. upgraded shares of First Hawaiian from an “underweight” rating to a “neutral” rating and cut their price objective for the stock from $30.00 to $29.00 in a report on Thursday. Stephens raised shares of First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price target for the company in a research report on Thursday, August 6th. Zacks Research downgraded shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. TD Cowen decreased their price target on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group boosted their price objective on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research note on Tuesday, July 7th.

Get Our Latest Analysis on FHB

Institutional Investors Weigh In On First Hawaiian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of First Hawaiian in the 2nd quarter worth about $483,971,000. Dimensional Fund Advisors LP grew its holdings in shares of First Hawaiian by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,693,630 shares of the bank’s stock worth $164,927,000 after purchasing an additional 313,362 shares during the period. Reinhart Partners LLC. grew its holdings in shares of First Hawaiian by 0.7% during the 2nd quarter. Reinhart Partners LLC. now owns 2,660,876 shares of the bank’s stock worth $77,964,000 after purchasing an additional 18,977 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in First Hawaiian during the 2nd quarter worth approximately $62,568,000. Finally, Bank of America Corp DE acquired a new stake in First Hawaiian during the 2nd quarter worth approximately $53,105,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Stock Up 1.4%

Shares of NASDAQ:FHB opened at $25.26 on Wednesday. The company has a market cap of $3.07 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.55 and a beta of 0.76. First Hawaiian has a 52 week low of $22.65 and a 52 week high of $30.58. The business has a fifty day simple moving average of $26.34 and a 200-day simple moving average of $26.91.

First Hawaiian (NASDAQ:FHB – Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $231.27 million for the quarter, compared to analyst estimates of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same period last year, the company earned $0.58 EPS. Sell-side analysts expect that First Hawaiian will post 2.37 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, August 17th. First Hawaiian’s payout ratio is 45.22%.

First Hawaiian Company Profile

(Get Free Report)

First Hawaiian, Inc is a bank holding company headquartered in Honolulu, Hawaii, and the parent company of First Hawaiian Bank. Founded in 1858, First Hawaiian Bank is one of the oldest financial institutions in Hawaii and provides banking services to consumers, businesses, and government and institutional customers.

First Hawaiian Bank offers a range of financial products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, credit cards, treasury management, online and mobile banking, and wealth management services.

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Analyst Recommendations for First Hawaiian (NASDAQ:FHB)

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