Barclays Cuts First Hawaiian (NASDAQ:FHB) Price Target to $27.00

First Hawaiian (NASDAQ:FHB) had its target price cut by Barclays from $30.00 to $27.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Several other equities research analysts also recently issued reports on FHB. Piper Sandler increased their target price on First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. The Goldman Sachs Group increased their price objective on First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price target on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.29.

First Hawaiian Stock Performance

Shares of FHB opened at $21.14 on Tuesday. First Hawaiian has a fifty-two week low of $19.48 and a fifty-two week high of $28.80. The business has a 50-day moving average of $25.30 and a 200 day moving average of $25.56. The firm has a market cap of $2.67 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 3.28 and a beta of 0.77.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $0.37 earnings per share. As a group, research analysts predict that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Friday, February 14th. First Hawaiian’s dividend payout ratio is currently 58.10%.

Hedge Funds Weigh In On First Hawaiian

A number of institutional investors have recently made changes to their positions in FHB. Wellington Management Group LLP grew its position in First Hawaiian by 1.2% in the third 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. Y Intercept Hong Kong Ltd bought a new stake in First Hawaiian during the third quarter worth about $632,000. Jane Street Group LLC boosted its holdings in shares of First Hawaiian by 91.4% in the 3rd quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock worth $4,077,000 after purchasing an additional 84,120 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of First Hawaiian by 88.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,530 shares of the bank’s stock valued at $351,000 after purchasing an additional 6,366 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings 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 in the last quarter. Institutional investors own 97.63% of the company’s stock.

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.