First Hawaiian, Inc. (NASDAQ:FHB) Declares $0.26 Quarterly Dividend

First Hawaiian, Inc. (NASDAQ:FHB) announced a quarterly dividend on Friday, July 26th, Zacks reports. Stockholders of record on Monday, August 19th will be paid a dividend of 0.26 per share by the bank on Friday, August 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Monday, August 19th.

First Hawaiian has a payout ratio of 58.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Hawaiian to earn $1.78 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 58.4%.

First Hawaiian Stock Performance

Shares of FHB stock opened at $26.10 on Friday. The firm’s 50-day moving average is $21.31 and its 200-day moving average is $21.42. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 15.00 and a beta of 0.99. First Hawaiian has a 52-week low of $17.18 and a 52-week high of $26.18.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, July 26th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. The company had revenue of $204.62 million for the quarter, compared to analysts’ expectations of $202.94 million. First Hawaiian had a net margin of 19.20% and a return on equity of 9.16%. Sell-side analysts predict that First Hawaiian will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FHB has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on shares of First Hawaiian from $20.00 to $18.00 and set an “underweight” rating on the stock in a report on Tuesday, June 25th. Barclays lowered their price target on shares of First Hawaiian from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of First Hawaiian from $25.50 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, First Hawaiian has a consensus rating of “Reduce” and an average target price of $21.50.

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.