Wells Fargo & Company Cuts First Hawaiian (NASDAQ:FHB) Price Target to $22.00

First Hawaiian (NASDAQ:FHB) had its price objective cut by Wells Fargo & Company from $24.00 to $22.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an underweight rating on the bank’s stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group increased their price target on First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a research report on Monday, February 3rd. Piper Sandler boosted their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price objective on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Barclays reduced their target price on shares of First Hawaiian from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.29.

First Hawaiian Price Performance

First Hawaiian stock opened at $21.42 on Wednesday. The company has a market cap of $2.70 billion, a PE ratio of 11.97, a P/E/G ratio of 3.28 and a beta of 0.77. First Hawaiian has a 12 month low of $19.48 and a 12 month high of $28.80. The company has a fifty day moving average price of $25.18 and a two-hundred day moving average price of $25.55.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, January 31st. The bank reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same period last year, the firm posted $0.37 earnings per share. Equities research analysts anticipate that First Hawaiian will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.86%. The ex-dividend date was Friday, February 14th. First Hawaiian’s dividend payout ratio (DPR) is presently 58.10%.

Hedge Funds Weigh In On First Hawaiian

Hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in shares of First Hawaiian in the 4th quarter worth approximately $36,000. Blue Trust Inc. grew its position in First Hawaiian by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank’s stock worth $71,000 after buying an additional 904 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of First Hawaiian by 32.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock valued at $74,000 after buying an additional 693 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of First Hawaiian by 65.1% during the 1st quarter. Versant Capital Management Inc now owns 3,128 shares of the bank’s stock valued at $76,000 after acquiring an additional 1,233 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of First Hawaiian by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 3,624 shares of the bank’s stock worth $94,000 after acquiring an additional 461 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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.