First Hawaiian, Inc. to Issue Quarterly Dividend of $0.26 (NASDAQ:FHB)

First Hawaiian, Inc. (NASDAQ:FHB) announced a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Shareholders of record on Monday, November 18th will be given a dividend of 0.26 per share by the bank on Friday, November 29th. This represents a $1.04 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Monday, November 18th.

First Hawaiian has a payout ratio of 63.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Hawaiian to earn $1.64 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 63.4%.

First Hawaiian Stock Performance

First Hawaiian stock opened at $27.20 on Friday. The stock has a fifty day moving average of $24.24 and a 200-day moving average of $22.90. The stock has a market capitalization of $3.48 billion, a P/E ratio of 15.54 and a beta of 0.96. First Hawaiian has a 52 week low of $18.77 and a 52 week high of $28.38.

Analyst Ratings Changes

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

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.