Analysts Set First Hawaiian, Inc. (NASDAQ:FHB) Price Target at $24.33

As of November 4, 2024, analysts have provided an average rating of "Reduce" for First Hawaiian, Inc. (NASDAQ:FHB), according to sources from MarketBeat Ratings. Six rating firms currently cover First Hawaiian, with three suggesting a sell recommendation and three advising investors to hold their positions. The average price target for the stock over the next twelve months has been set at $24.33.

Recently, several brokerages have shared their insights on First Hawaiian. JPMorgan Chase & Co. revised their price target down from $24.00 to $23.00 and categorized the stock as "underweight" in their report dated October 9th. Conversely, Wells Fargo & Company increased their target from $20.00 to $21.00 while maintaining an "underweight" rating as of October 28th. Barclays raised their target from $24.00 to $25.00, assigning an "equal weight" rating in a report published on July 29th. Piper Sandler set a new target of $27.00 from a previous $22.00, issuing a "neutral" rating on the same date. Lastly, Keefe, Bruyette & Woods enhanced their price target from $25.00 to $26.00, giving the stock a "market perform" rating.

Current Stock Performance

On the trading day following this news, First Hawaiian's stock opened at $24.82. Throughout the past twelve months, the stock has experienced a low of $17.95 and a high of $26.18. The company currently has a fifty-day moving average of $23.64 and a two-hundred-day moving average of $22.53. With a market capitalization of $3.17 billion, the stock has a P/E ratio of 14.18 and a beta of 0.96, indicating a relatively stable performance in comparison to the market.

Dividend Announcement

First Hawaiian has also declared a quarterly dividend, scheduled to be paid on November 29th. Shareholders on record as of November 18th will receive a dividend of $0.26 per share. This results in an annualized dividend of $1.04, corresponding to a yield of 4.19%. Notably, the company's current dividend payout ratio stands at 59.43%.

Changes in Institutional Holdings

Recently, some institutional investors have adjusted their positions in First Hawaiian. Whittier Trust Co. boosted its holdings by 68.7% during the second quarter, now owning 1,245 shares valued at approximately $26,000. Versant Capital Management Inc. increased their stake by 55.7%, now holding 1,895 shares worth about $39,000. In addition, Blue Trust Inc. raised their holdings by 51.5%, reaching 1,838 shares valued at $43,000. Other firms, such as Abich Financial Wealth Management LLC and GAMMA Investing LLC, also significantly increased their investments in First Hawaiian, with hedge funds and institutional investors now controlling 97.63% of the company’s shares.

About First Hawaiian, Inc.

First Hawaiian, Inc. functions as a bank holding company for First Hawaiian Bank, offering a variety of banking products and services to both consumer and commercial clients in the United States. The company operates through three primary segments: Retail Banking, Commercial Banking, and Treasury and Other services, providing essential deposit products such as checking, savings, and time deposit accounts.

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