Barclays Forecasts Strong Price Appreciation for First Hawaiian (NASDAQ:FHB) Stock

First Hawaiian (NASDAQ:FHB) had its price objective boosted by Barclays from $25.00 to $27.00 in a report issued on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the bank’s stock.

Several other equities analysts have also commented on FHB. Keefe, Bruyette & Woods increased their target price on First Hawaiian from $25.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group lifted their target price on shares of First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a report on Tuesday, November 26th. Wells Fargo & Company lifted their price objective on First Hawaiian from $21.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Stephens began coverage on First Hawaiian in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 price target for the company. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, First Hawaiian currently has an average rating of “Hold” and a consensus target price of $26.14.

First Hawaiian Stock Up 1.0 %

Shares of FHB opened at $27.36 on Thursday. First Hawaiian has a fifty-two week low of $19.48 and a fifty-two week high of $28.80. The firm’s 50 day moving average price is $25.39 and its 200 day moving average price is $23.43. The company has a market cap of $3.50 billion, a P/E ratio of 15.63 and a beta of 0.98.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.04 annualized dividend and a yield of 3.80%. First Hawaiian’s dividend payout ratio (DPR) is currently 59.43%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of First Hawaiian by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock worth $218,025,000 after acquiring an additional 942,634 shares during the last quarter. AQR Capital Management LLC lifted its holdings in First Hawaiian by 958.2% in the 2nd quarter. AQR Capital Management LLC now owns 439,423 shares of the bank’s stock valued at $9,043,000 after purchasing an additional 397,897 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Hawaiian by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock worth $108,057,000 after purchasing an additional 370,722 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of First Hawaiian by 96.8% during the third quarter. Harbor Capital Advisors Inc. now owns 478,262 shares of the bank’s stock worth $11,072,000 after buying an additional 235,253 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of First Hawaiian by 6.5% during the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after buying an additional 203,407 shares in the last quarter. 97.63% of the stock is currently 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.