First Hawaiian, Inc. (NASDAQ:FHB) Given Consensus Recommendation of “Reduce” by Analysts

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

Several brokerages have recently commented on FHB. Barclays raised their target price on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday. Piper Sandler raised their target price on First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday. Wells Fargo & Company lifted their price target on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday. Keefe, Bruyette & Woods lifted their price target on First Hawaiian from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price target on First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Monday.

Institutional Investors Weigh In On First Hawaiian

A number of hedge funds and other institutional investors have recently bought and sold shares of FHB. Squarepoint Ops LLC grew its position in First Hawaiian by 122.9% in the second quarter. Squarepoint Ops LLC now owns 25,432 shares of the bank’s stock worth $528,000 after acquiring an additional 14,021 shares in the last quarter. Algert Global LLC purchased a new stake in First Hawaiian during the second quarter valued at about $267,000. Creative Planning boosted its position in First Hawaiian by 10.8% during the second quarter. Creative Planning now owns 22,205 shares of the bank’s stock valued at $461,000 after buying an additional 2,156 shares during the period. Sanctuary Advisors LLC purchased a new stake in First Hawaiian during the second quarter valued at about $462,000. Finally, GAMMA Investing LLC boosted its position in First Hawaiian by 49.1% during the third quarter. GAMMA Investing LLC now owns 3,163 shares of the bank’s stock valued at $73,000 after buying an additional 1,041 shares during the period. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Price Performance

Shares of FHB opened at $28.18 on Friday. The stock has a 50-day moving average of $26.41 and a 200-day moving average of $25.10. The company has a market cap of $3.60 billion, a PE ratio of 15.74 and a beta of 0.99. First Hawaiian has a one year low of $19.48 and a one year high of $28.80.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, January 31st. The bank reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same period in the prior year, the firm posted $0.37 earnings per share. Analysts expect that First Hawaiian will post 1.74 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.69%. First Hawaiian’s dividend payout ratio (DPR) is presently 58.10%.

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.