Brokerages Set First Hawaiian Inc (NASDAQ:FHB) Price Target at $21.29

First Hawaiian Inc (NASDAQ:FHB) has been assigned an average rating of “Hold” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $20.50.

FHB has been the subject of a number of analyst reports. ValuEngine upgraded First Hawaiian from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. UBS Group lowered First Hawaiian from a “neutral” rating to a “sell” rating and cut their price target for the stock from $15.00 to $13.00 in a research note on Monday, June 29th. Wells Fargo & Co lowered First Hawaiian from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $16.00 to $13.00 in a research note on Tuesday, July 7th. Bank of America upgraded First Hawaiian from a “neutral” rating to a “buy” rating and raised their price objective for the company from $19.00 to $23.00 in a research report on Monday, June 8th. Finally, BidaskClub upgraded First Hawaiian from a “strong sell” rating to a “sell” rating in a research report on Friday, July 24th.

In related news, CFO Ravi Mallela purchased 3,290 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average price of $14.87 per share, for a total transaction of $48,922.30. Company insiders own 0.57% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FHB. Metropolitan Life Insurance Co NY lifted its stake in First Hawaiian by 21.5% in the first quarter. Metropolitan Life Insurance Co NY now owns 3,192 shares of the bank’s stock worth $83,000 after purchasing an additional 564 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in First Hawaiian by 25.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,499 shares of the bank’s stock worth $563,000 after purchasing an additional 3,900 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in First Hawaiian by 22.3% in the fourth quarter. Bank of New York Mellon Corp now owns 882,272 shares of the bank’s stock worth $25,453,000 after purchasing an additional 161,001 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in First Hawaiian by 8.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 184,381 shares of the bank’s stock worth $5,319,000 after purchasing an additional 14,313 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in First Hawaiian by 3,436.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 7,072 shares of the bank’s stock worth $204,000 after purchasing an additional 6,872 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

First Hawaiian stock traded up $0.08 during trading on Tuesday, reaching $17.38. The company had a trading volume of 1,666,819 shares, compared to its average volume of 2,938,142. First Hawaiian has a 52 week low of $13.56 and a 52 week high of $31.25. The firm’s 50-day simple moving average is $16.93 and its 200 day simple moving average is $20.09. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 11.36 and a beta of 1.34. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, July 24th. The bank reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.06). First Hawaiian had a return on equity of 7.77% and a net margin of 24.42%. The company had revenue of $173.48 million during the quarter, compared to the consensus estimate of $179.45 million. During the same period in the prior year, the business posted $0.54 earnings per share. On average, analysts predict that First Hawaiian will post 1.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.04 annualized dividend and a yield of 5.98%. First Hawaiian’s dividend payout ratio is currently 47.49%.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking 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 accepts various deposit products, including checking and savings accounts, and time deposit accounts.

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Analyst Recommendations for First Hawaiian (NASDAQ:FHB)

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