First Hawaiian (NASDAQ:FHB) Shares Gap Down to $26.10

First Hawaiian, Inc. (NASDAQ:FHB) shares gapped down before the market opened on Monday . The stock had previously closed at $26.10, but opened at $25.52. First Hawaiian shares last traded at $25.45, with a volume of 56,100 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FHB shares. Piper Sandler boosted their target price on First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday. Barclays lifted their target price on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday. Wells Fargo & Company lifted their target price on First Hawaiian from $18.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday. JPMorgan Chase & Co. cut First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price target for the company. in a report on Monday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $24.00.

First Hawaiian Price Performance

The firm has a market capitalization of $3.20 billion, a P/E ratio of 14.45 and a beta of 0.99. The stock’s 50-day simple moving average is $21.31 and its two-hundred day simple moving average is $21.41.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, April 26th. The bank reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. The business had revenue of $205.80 million for the quarter, compared to the consensus estimate of $202.41 million. On average, analysts forecast that First Hawaiian, Inc. will post 1.71 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Monday, August 19th. First Hawaiian’s dividend payout ratio is currently 59.77%.

Institutional Trading of First Hawaiian

Several large investors have recently made changes to their positions in FHB. Whittier Trust Co. grew 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 worth $26,000 after acquiring an additional 507 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of First Hawaiian by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 56,400 shares of the bank’s stock valued at $1,289,000 after purchasing an additional 550 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of First Hawaiian by 8.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank’s stock valued at $163,000 after purchasing an additional 550 shares in the last quarter. Abich Financial Wealth Management LLC raised its position 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 acquiring an additional 652 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of First Hawaiian by 55.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $39,000 after acquiring an additional 678 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

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.