First Hawaiian (NASDAQ:FHB) Price Target Raised to $29.00 at JPMorgan Chase & Co.

First Hawaiian (NASDAQ:FHB) had its target price upped by JPMorgan Chase & Co. from $27.00 to $29.00 in a research note issued to investors on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the bank’s stock.

FHB has been the topic of a number of other research reports. The Goldman Sachs Group raised their price target on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a report on Monday. Piper Sandler increased their price objective on First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday. Wells Fargo & Company upped their target price on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Monday. Barclays lifted their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Stephens began coverage on shares of First Hawaiian in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 target price on the stock. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, First Hawaiian presently has a consensus rating of “Hold” and an average price target of $29.00.

First Hawaiian Stock Performance

NASDAQ:FHB opened at $27.58 on Monday. The stock has a fifty day moving average of $26.41 and a 200 day moving average of $25.03. First Hawaiian has a 52-week low of $19.48 and a 52-week high of $28.80. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 15.41 and a beta of 0.99.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, beating 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 quarter last year, the firm earned $0.37 earnings per share. Equities analysts forecast that First Hawaiian will post 1.74 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 3.77%. First Hawaiian’s dividend payout ratio is 58.10%.

Institutional Investors Weigh In On First Hawaiian

Several institutional investors have recently modified their holdings of the business. Paradigm Asset Management Co. LLC bought a new position in First Hawaiian during the 4th quarter valued at about $200,000. Global Retirement Partners LLC lifted its position in First Hawaiian by 32.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock valued at $74,000 after purchasing an additional 693 shares during the period. Principal Financial Group Inc. lifted its position in First Hawaiian by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 619,714 shares of the bank’s stock valued at $16,082,000 after purchasing an additional 17,515 shares during the period. Empowered Funds LLC purchased a new stake in First Hawaiian in the fourth quarter worth approximately $386,000. Finally, CKW Financial Group grew its position in First Hawaiian by 1.2% in the 4th quarter. CKW Financial Group now owns 32,600 shares of the bank’s stock worth $846,000 after purchasing an additional 400 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Company Profile

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.