First Hawaiian, Inc. (NASDAQ:FHB) Receives Average Recommendation of "Reduce" from Analysts

Shares of First Hawaiian, Inc. (NASDAQ:FHB - Get Free Report) have received an average recommendation of "Reduce" from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $24.33.

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on First Hawaiian from $25.00 to $26.00 and gave the company a "market perform" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. decreased their price objective on First Hawaiian from $24.00 to $23.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 9th. The Goldman Sachs Group boosted their price target on First Hawaiian from $21.00 to $24.00 and gave the company a "sell" rating in a report on Monday, July 29th. Barclays raised their price target on First Hawaiian from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Monday, July 29th. Finally, Piper Sandler lifted their price target on shares of First Hawaiian from $22.00 to $27.00 and gave the company a "neutral" rating in a report on Monday, July 29th.

Institutional Trading of First Hawaiian

Institutional investors have recently modified their holdings of the company. Raymond James & Associates raised its position in shares of First Hawaiian by 5.5% during the second quarter. Raymond James & Associates now owns 1,079,969 shares of the bank's stock worth $22,420,000 after acquiring an additional 56,445 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in First Hawaiian by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank's stock worth $218,025,000 after acquiring an additional 942,634 shares in the last quarter. American Century Companies Inc. grew its stake in First Hawaiian by 6.5% in the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank's stock valued at $69,321,000 after acquiring an additional 203,407 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of First Hawaiian by 100.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the bank's stock worth $80,000 after purchasing an additional 1,943 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of First Hawaiian during the second quarter worth about $462,000. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Stock Performance

NASDAQ FHB traded up $0.14 during trading on Wednesday, reaching $25.15. 368,709 shares of the company's stock were exchanged, compared to its average volume of 649,731. The company has a 50 day moving average price of $23.57 and a two-hundred day moving average price of $22.45. The stock has a market cap of $3.22 billion, a P/E ratio of 14.37 and a beta of 0.98. First Hawaiian has a 1 year low of $17.71 and a 1 year high of $26.18.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.14%. First Hawaiian's payout ratio is presently 59.77%.

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.