First Hawaiian (NASDAQ:FHB) Price Target Raised to $26.00

First Hawaiian (NASDAQ:FHB) had its price target hoisted by Wells Fargo & Company from $24.00 to $26.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

A number of other equities analysts also recently commented on FHB. JPMorgan Chase & Co. boosted their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Monday, February 2nd. Weiss Ratings upgraded shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Piper Sandler cut their price objective on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. TD Cowen reiterated a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. Finally, The Goldman Sachs Group set a $27.50 target price on shares of First Hawaiian and gave the company a “sell” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $27.21.

First Hawaiian Trading Up 1.4%

Shares of NASDAQ:FHB opened at $24.98 on Monday. First Hawaiian has a 12-month low of $20.32 and a 12-month high of $28.35. The business’s fifty day simple moving average is $25.52 and its 200-day simple moving average is $25.31. The company has a market capitalization of $3.07 billion, a PE ratio of 11.35, a P/E/G ratio of 1.95 and a beta of 0.71.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, January 30th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.The firm had revenue of $225.85 million during the quarter, compared to analyst estimates of $225.33 million. During the same period in the previous year, the company posted $0.41 EPS. Research analysts predict that First Hawaiian will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, February 13th. First Hawaiian’s dividend payout ratio (DPR) is currently 47.27%.

Insider Buying and Selling at First Hawaiian

In other news, Director Craig Scott Wo sold 1,500 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $27.21, for a total transaction of $40,815.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Institutional Trading of First Hawaiian

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in First Hawaiian by 8.6% during the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock valued at $4,041,000 after purchasing an additional 13,071 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of First Hawaiian by 9.3% during the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock worth $246,000 after buying an additional 856 shares during the period. United Services Automobile Association purchased a new stake in shares of First Hawaiian during the first quarter valued at $201,000. Empowered Funds LLC grew its holdings in shares of First Hawaiian by 10.4% during the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock valued at $401,000 after buying an additional 1,542 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of First Hawaiian by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock valued at $10,389,000 after acquiring an additional 31,686 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.