First Hawaiian (NASDAQ:FHB) Sets New 52-Week High – Time to Buy?

Shares of First Hawaiian, Inc. (NASDAQ:FHB) hit a new 52-week high on Wednesday . The stock traded as high as $27.81 and last traded at $27.67, with a volume of 8715 shares changing hands. The stock had previously closed at $25.40.

Analyst Ratings Changes

FHB has been the subject of a number of analyst reports. Barclays increased their price objective on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. The Goldman Sachs Group increased their price target on shares of First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. decreased their price objective on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company raised their target price on First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $24.33.

First Hawaiian Trading Down 4.6 %

The business’s 50 day moving average price is $23.83 and its two-hundred day moving average price is $22.67. The stock has a market cap of $3.45 billion, a P/E ratio of 15.43 and a beta of 0.96.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, November 18th. This represents a $1.04 annualized dividend and a yield of 3.85%. First Hawaiian’s payout ratio is 59.43%.

Institutional Inflows and Outflows

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

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.