First Hawaiian (NASDAQ:FHB) Sets New 1-Year High – What’s Next?

First Hawaiian, Inc. (NASDAQ:FHB) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $28.78 and last traded at $28.70, with a volume of 22358 shares changing hands. The stock had previously closed at $27.90.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FHB. Wells Fargo & Company upped their target price on shares of First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. The Goldman Sachs Group raised their target price on First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price target on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $24.67.

First Hawaiian Stock Down 1.7 %

The stock has a 50-day moving average of $24.84 and a 200 day moving average of $23.19. The company has a market capitalization of $3.54 billion, a PE ratio of 15.82 and a beta of 0.96.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s dividend payout ratio is presently 59.43%.

Hedge Funds Weigh In On First Hawaiian

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. raised its position in First Hawaiian by 68.7% in the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after acquiring an additional 507 shares during the period. Versant Capital Management Inc lifted its stake in First Hawaiian by 55.7% in the second quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $39,000 after purchasing an additional 678 shares during the last quarter. Blue Trust Inc. lifted its stake in First Hawaiian by 51.5% in the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock valued at $43,000 after purchasing an additional 625 shares during the last quarter. GAMMA Investing LLC grew its holdings in First Hawaiian by 50.3% during the second quarter. GAMMA Investing LLC now owns 2,122 shares of the bank’s stock valued at $44,000 after purchasing an additional 710 shares during the period. Finally, Abich Financial Wealth Management LLC increased its position in First Hawaiian by 48.9% in the first quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock worth $44,000 after buying an additional 652 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

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.