First Hawaiian, Inc. (FHB) to Issue Quarterly Dividend of $0.26 on February 28th

First Hawaiian, Inc. (NASDAQ:FHB) declared a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.26 per share by the bank on Friday, February 28th. This represents a $1.04 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, February 14th.

First Hawaiian has a dividend payout ratio of 49.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Hawaiian to earn $2.15 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 48.4%.

First Hawaiian Trading Down 1.3 %

Shares of NASDAQ FHB traded down $0.37 during midday trading on Wednesday, hitting $27.38. 78,395 shares of the company’s stock were exchanged, compared to its average volume of 796,466. The business’s fifty day moving average price is $26.41 and its two-hundred day moving average price is $25.16. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 3.39 and a beta of 0.99. First Hawaiian has a 12-month low of $19.48 and a 12-month high of $28.80.

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, 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 last year, the firm earned $0.37 earnings per share. Equities analysts expect that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FHB. Barclays increased their target price on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Piper Sandler raised their price objective on First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. The Goldman Sachs Group boosted their target price on shares of First Hawaiian from $26.00 to $29.00 and gave the company a “sell” rating in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.00.

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.