JPMorgan Chase & Co. Issues Positive Forecast for First Hawaiian (NASDAQ:FHB) Stock Price

First Hawaiian (NASDAQ:FHB) had its price target lifted by JPMorgan Chase & Co. from $25.00 to $27.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an underweight rating on the bank’s stock.

A number of other brokerages have also recently commented on FHB. The Goldman Sachs Group raised their target price on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday, November 26th. Stephens initiated coverage on First Hawaiian in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price objective on First Hawaiian from $25.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Barclays raised their target price on shares of First Hawaiian from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company upped their price target on shares of First Hawaiian from $21.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Four analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, First Hawaiian presently has a consensus rating of “Hold” and an average target price of $26.71.

First Hawaiian Price Performance

Shares of First Hawaiian stock opened at $26.72 on Tuesday. First Hawaiian has a 1-year low of $19.48 and a 1-year high of $28.80. The company’s fifty day simple moving average is $26.12 and its 200-day simple moving average is $23.84. The stock has a market capitalization of $3.42 billion, a PE ratio of 15.27 and a beta of 0.98.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.04 annualized dividend and a yield of 3.89%. First Hawaiian’s payout ratio is 59.43%.

Hedge Funds Weigh In On First Hawaiian

Institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised 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 worth $218,025,000 after acquiring an additional 942,634 shares in the last quarter. AQR Capital Management LLC increased its position in First Hawaiian by 958.2% in the second quarter. AQR Capital Management LLC now owns 439,423 shares of the bank’s stock worth $9,043,000 after purchasing an additional 397,897 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in First Hawaiian by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock valued at $108,057,000 after purchasing an additional 370,722 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in First Hawaiian by 96.8% during the third quarter. Harbor Capital Advisors Inc. now owns 478,262 shares of the bank’s stock valued at $11,072,000 after purchasing an additional 235,253 shares during the last quarter. Finally, American Century Companies Inc. grew 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 buying an additional 203,407 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 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.