First Hawaiian, Inc. to Issue Quarterly Dividend of $0.26 (NASDAQ:FHB)

First Hawaiian, Inc. (NASDAQ:FHB) announced a quarterly dividend on Wednesday, October 18th, Zacks reports. Stockholders of record on Monday, November 20th will be paid a dividend of 0.26 per share by the bank on Friday, December 1st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Friday, November 17th.

First Hawaiian has a payout ratio of 60.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Hawaiian to earn $1.72 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 60.5%.

First Hawaiian Price Performance

NASDAQ FHB opened at $19.48 on Wednesday. The company has a market cap of $2.49 billion, a P/E ratio of 9.32 and a beta of 1.04. The stock has a 50-day moving average of $18.10 and a two-hundred day moving average of $18.49. First Hawaiian has a 1-year low of $15.08 and a 1-year high of $28.28.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, October 27th. The bank reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. The company had revenue of $285.90 million during the quarter, compared to analysts’ expectations of $199.36 million. First Hawaiian had a net margin of 24.88% and a return on equity of 11.48%. During the same quarter last year, the company posted $0.54 EPS. On average, analysts anticipate that First Hawaiian will post 1.93 EPS for the current fiscal year.

Hedge Funds Weigh In On First Hawaiian

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in First Hawaiian in the 4th quarter valued at $34,342,000. State Street Corp lifted its stake in shares of First Hawaiian by 19.0% in the 2nd quarter. State Street Corp now owns 6,139,948 shares of the bank’s stock worth $110,580,000 after acquiring an additional 979,494 shares during the period. Balyasny Asset Management LLC boosted its holdings in shares of First Hawaiian by 917.9% in the third quarter. Balyasny Asset Management LLC now owns 917,431 shares of the bank’s stock valued at $22,596,000 after acquiring an additional 827,297 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of First Hawaiian by 4.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,037,353 shares of the bank’s stock worth $289,591,000 after acquiring an additional 629,893 shares during the period. Finally, Northern Trust Corp raised its holdings in First Hawaiian by 27.8% during the first quarter. Northern Trust Corp now owns 1,401,235 shares of the bank’s stock worth $39,081,000 after purchasing an additional 304,823 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FHB shares. Wells Fargo & Company dropped their price objective on shares of First Hawaiian from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 4th. StockNews.com began coverage on First Hawaiian in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, The Goldman Sachs Group lifted their price target on First Hawaiian from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, First Hawaiian has a consensus rating of “Hold” and a consensus price target of $21.20.

About First Hawaiian

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 through three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, include checking and savings accounts, and other deposit accounts.