First Hawaiian (NASDAQ:FHB) Price Target Cut to $23.00

First Hawaiian (NASDAQ:FHB - Free Report) had its price objective cut by JPMorgan Chase & Co. from $24.00 to $23.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an underweight rating on the bank's stock.

Several other equities analysts also recently issued reports on the company. Piper Sandler boosted their price objective on First Hawaiian from $22.00 to $27.00 and gave the stock a neutral rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price target on First Hawaiian from $25.00 to $26.00 and gave the stock a market perform rating in a research report on Monday, July 29th. Wells Fargo & Company lowered their price target on First Hawaiian from $22.00 to $20.00 and set an underweight rating on the stock in a report on Tuesday, October 1st. Barclays upped their price objective on shares of First Hawaiian from $24.00 to $25.00 and gave the stock an equal weight rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group boosted their price target on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a sell rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of Reduce and a consensus price target of $24.17.

First Hawaiian Stock Up 1.1 %

NASDAQ FHB traded up $0.24 during trading hours on Wednesday, hitting $22.86. The company had a trading volume of 543,723 shares, compared to its average volume of 660,733. First Hawaiian has a fifty-two week low of $17.18 and a fifty-two week high of $26.18. The firm has a market cap of $2.92 billion, a P/E ratio of 13.16 and a beta of 0.98. The business has a fifty day simple moving average of $23.39 and a 200-day simple moving average of $22.18.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings data on Friday, July 26th. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.06. The firm had revenue of $204.62 million for the quarter, compared to the consensus estimate of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. Equities analysts forecast that First Hawaiian will post 1.79 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date was Monday, August 19th. First Hawaiian's payout ratio is 59.77%.

Institutional Trading of First Hawaiian

Large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. boosted its position in shares of First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank's stock valued at $26,000 after purchasing an additional 507 shares during the period. Versant Capital Management Inc boosted its holdings in shares of First Hawaiian by 55.7% in the second quarter. Versant Capital Management Inc now owns 1,895 shares of the bank's stock worth $39,000 after buying an additional 678 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in shares of First Hawaiian in the first quarter worth approximately $42,000. Abich Financial Wealth Management LLC raised its holdings in shares of First Hawaiian by 48.9% during the first quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank's stock valued at $44,000 after acquiring an additional 652 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of First Hawaiian by 50.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,122 shares of the bank's stock valued at $44,000 after acquiring an additional 710 shares in the last quarter. 97.63% of the stock is currently owned by 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.