First Hawaiian (NASDAQ:FHB) Sets New 1-Year High – What’s Next?

First Hawaiian, Inc. (NASDAQ:FHB) shares reached a new 52-week high on Monday . The stock traded as high as $28.78 and last traded at $28.70, with a volume of 22358 shares traded. The stock had previously closed at $27.90.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. lowered their target price on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their price target on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $24.67.

First Hawaiian Price Performance

The firm’s 50 day moving average is $24.84 and its 200 day moving average is $23.19. The company has a market cap of $3.54 billion, a PE ratio of 15.82 and a beta of 0.96.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.76%. First Hawaiian’s dividend payout ratio (DPR) is currently 59.43%.

Hedge Funds Weigh In On First Hawaiian

A number of institutional investors have recently added to or reduced their stakes in FHB. Sanctuary Advisors LLC boosted its position in shares of First Hawaiian by 20.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,476 shares of the bank’s stock valued at $590,000 after acquiring an additional 4,383 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in First Hawaiian by 2.7% in the third quarter. SkyView Investment Advisors LLC now owns 38,545 shares of the bank’s stock valued at $892,000 after purchasing an additional 999 shares in the last quarter. M&T Bank Corp lifted its position in First Hawaiian by 9.9% during the third quarter. M&T Bank Corp now owns 16,252 shares of the bank’s stock valued at $376,000 after purchasing an additional 1,461 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in First Hawaiian in the 3rd quarter worth approximately $632,000. Finally, Jane Street Group LLC grew its stake in First Hawaiian by 91.4% in the 3rd quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock worth $4,077,000 after buying an additional 84,120 shares in the last quarter. 97.63% of the stock is currently owned by 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.