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

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have received a consensus rating of “Reduce” from the six research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $24.33.

FHB has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 9th. Barclays lifted their price objective on First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Wells Fargo & Company increased their target price on First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Piper Sandler lifted their price target on First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group increased their price objective on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research note on Monday, July 29th.

Institutional Investors Weigh In On First Hawaiian

A number of large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in shares of First Hawaiian by 1.2% during the third quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock valued at $245,963,000 after purchasing an additional 122,599 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of First Hawaiian by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock valued at $218,025,000 after buying an additional 942,634 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of First Hawaiian by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock worth $108,057,000 after buying an additional 370,722 shares during the period. American Century Companies Inc. increased its stake in shares of First Hawaiian by 6.5% in the 2nd quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after acquiring an additional 203,407 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its position in First Hawaiian by 6.1% during the 3rd quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock valued at $56,980,000 after acquiring an additional 141,327 shares during the period. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Price Performance

Shares of NASDAQ FHB opened at $27.90 on Friday. The stock has a market capitalization of $3.57 billion, a P/E ratio of 15.94 and a beta of 0.96. First Hawaiian has a one year low of $18.77 and a one year high of $28.38. The firm’s 50 day simple moving average is $24.66 and its two-hundred day simple moving average is $23.09.

First Hawaiian Announces Dividend

The firm also recently declared 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. This represents a $1.04 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s payout ratio is 59.43%.

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.