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

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

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

First Hawaiian Stock Up 1.3 %

Shares of NASDAQ:FHB opened at $21.42 on Wednesday. The company has a market cap of $2.70 billion, a P/E ratio of 11.97, a P/E/G ratio of 3.28 and a beta of 0.77. The business has a fifty day simple moving average of $25.18 and a 200-day simple moving average of $25.55. First Hawaiian has a 52 week low of $19.48 and a 52 week high of $28.80.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, January 31st. The bank reported $0.41 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.37 earnings per share. Sell-side analysts expect that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

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

Institutional Trading of First Hawaiian

Several large investors have recently modified their holdings of FHB. BNP Paribas Financial Markets boosted its stake in shares of First Hawaiian by 78.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,352 shares of the bank’s stock valued at $610,000 after buying an additional 11,604 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of First Hawaiian in the third quarter worth $284,000. Quantinno Capital Management LP raised its holdings in First Hawaiian by 5.4% in the third quarter. Quantinno Capital Management LP now owns 68,423 shares of the bank’s stock valued at $1,584,000 after acquiring an additional 3,523 shares in the last quarter. Wellington Management Group LLP grew its holdings in First Hawaiian by 1.2% during the 3rd quarter. Wellington Management Group LLP now owns 686,701 shares of the bank’s stock worth $15,897,000 after acquiring an additional 7,926 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in First Hawaiian by 91.4% during the 3rd quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock worth $4,077,000 after acquiring an additional 84,120 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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 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.