First Hawaiian (NASDAQ:FHB) PT Lowered to $18.00

First Hawaiian (NASDAQ:FHB) had its price target trimmed by Wells Fargo & Company from $20.00 to $18.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an underweight rating on the bank’s stock.

Separately, Barclays cut their price target on First Hawaiian from $25.00 to $24.00 and set an equal weight rating for the company in a research note on Monday. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat, First Hawaiian has a consensus rating of Reduce and an average price target of $21.50.

First Hawaiian Trading Up 0.9 %

First Hawaiian stock opened at $20.47 on Tuesday. First Hawaiian has a 12 month low of $17.18 and a 12 month high of $23.22. The stock’s 50 day moving average is $20.95 and its 200-day moving average is $21.38. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 11.76 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, April 26th. The bank reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. First Hawaiian had a return on equity of 9.16% and a net margin of 19.20%. The company had revenue of $205.80 million for the quarter, compared to the consensus estimate of $202.41 million. As a group, equities research analysts predict that First Hawaiian will post 1.71 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.04 annualized dividend and a dividend yield of 5.08%. First Hawaiian’s dividend payout ratio (DPR) is presently 59.77%.

Institutional Trading of First Hawaiian

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in First Hawaiian by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank’s stock worth $334,927,000 after acquiring an additional 87,304 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of First Hawaiian by 17.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock worth $186,842,000 after purchasing an additional 1,561,662 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Hawaiian by 17.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock worth $103,082,000 after purchasing an additional 668,871 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of First Hawaiian by 124.3% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock worth $58,079,000 after purchasing an additional 1,408,160 shares in the last quarter. Finally, Reinhart Partners LLC. boosted its position in shares of First Hawaiian by 2.1% during the 1st quarter. Reinhart Partners LLC. now owns 2,299,222 shares of the bank’s stock worth $50,491,000 after purchasing an additional 48,213 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.