First Hawaiian, Inc. (NASDAQ:FHB) Given Average Recommendation of “Reduce” by Brokerages

First Hawaiian, Inc. (NASDAQ:FHB) has received an average rating of “Reduce” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $27.5625.

Several equities analysts have commented on the stock. TD Cowen boosted their price target on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Tuesday. Wells Fargo & Company lifted their target price on First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, March 30th. Stephens set a $28.00 target price on First Hawaiian in a research note on Monday, April 27th. Wall Street Zen upgraded First Hawaiian from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, The Goldman Sachs Group set a $27.50 price target on First Hawaiian and gave the company a “sell” rating in a research report on Tuesday, January 6th.

First Hawaiian Stock Performance

NASDAQ FHB opened at $27.47 on Friday. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 2.78 and a beta of 0.75. The firm has a 50 day simple moving average of $25.37 and a 200-day simple moving average of $25.54. First Hawaiian has a one year low of $22.65 and a one year high of $28.35.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $220.35 million for the quarter, compared to the consensus estimate of $223.59 million. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. During the same period in the prior year, the firm earned $0.47 EPS. Equities analysts predict that First Hawaiian will post 2.31 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, May 18th. First Hawaiian’s dividend payout ratio is presently 45.61%.

Insiders Place Their Bets

In related news, Director Craig Scott Wo sold 1,500 shares of First Hawaiian stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Hawaiian

A number of large investors have recently modified their holdings of FHB. Royal Bank of Canada lifted its position in shares of First Hawaiian by 8.6% during the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock worth $4,041,000 after purchasing an additional 13,071 shares during the last quarter. Integrated Wealth Concepts LLC grew 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 purchasing an additional 856 shares in the last quarter. United Services Automobile Association purchased a new position in First Hawaiian in the first quarter valued at $201,000. Empowered Funds LLC raised its stake in First Hawaiian by 10.4% in 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in First Hawaiian by 8.1% in the first 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 buying an additional 31,686 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

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.