First Hawaiian (NASDAQ:FHB) Price Target Raised to $22.00

First Hawaiian (NASDAQ:FHB) had its price objective increased by Wells Fargo & Company from $18.00 to $22.00 in a research report sent to investors on Monday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the bank’s stock.

A number of other analysts also recently issued reports on FHB. Barclays cut their target price on First Hawaiian from $25.00 to $24.00 and set an equal weight rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. downgraded First Hawaiian from a neutral rating to an underweight rating and set a $24.00 target price for the company. in a research note on Monday. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Reduce and an average price target of $24.67.

First Hawaiian Stock Down 0.9 %

Shares of FHB opened at $25.04 on Monday. First Hawaiian has a 52-week low of $17.18 and a 52-week high of $26.18. The company has a market capitalization of $3.20 billion, a PE ratio of 14.39 and a beta of 0.99. The stock has a fifty day simple moving average of $21.54 and a two-hundred day simple moving average of $21.49.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Monday, August 19th. First Hawaiian’s payout ratio is 59.77%.

Institutional Trading of First Hawaiian

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in First Hawaiian in the 4th quarter valued at about $32,689,000. Hotchkis & Wiley Capital Management LLC grew its position in First Hawaiian by 124.3% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock valued at $58,079,000 after acquiring an additional 1,408,160 shares in the last quarter. Dimensional Fund Advisors LP grew its position in First Hawaiian by 17.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock valued at $103,082,000 after acquiring an additional 668,871 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in First Hawaiian in the 4th quarter valued at about $1,880,000. Finally, Pinebridge Investments L.P. grew its position in First Hawaiian by 101.0% in the 4th quarter. Pinebridge Investments L.P. now owns 136,217 shares of the bank’s stock valued at $3,114,000 after acquiring an additional 68,457 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

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.