First Hawaiian, Inc. (NASDAQ:FHB) to Issue Quarterly Dividend of $0.26

First Hawaiian, Inc. (NASDAQ:FHB) announced a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.26 per share by the bank on Friday, November 29th. This represents a $1.04 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Monday, November 18th.

First Hawaiian has a payout ratio of 63.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Hawaiian to earn $1.64 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 63.4%.

First Hawaiian Stock Performance

First Hawaiian stock traded down $0.04 during mid-day trading on Friday, hitting $27.20. The company’s stock had a trading volume of 632,952 shares, compared to its average volume of 649,446. The company has a 50 day moving average of $24.24 and a 200-day moving average of $22.90. First Hawaiian has a one year low of $18.77 and a one year high of $28.38. The stock has a market cap of $3.48 billion, a PE ratio of 15.54 and a beta of 0.96.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Wells Fargo & Company increased their price objective on First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. The Goldman Sachs Group upped their target price on First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a report on Monday, July 29th. Piper Sandler raised their price target on First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. decreased their price objective on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, First Hawaiian presently has an average rating of “Reduce” and a consensus price target of $24.33.

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.