Piper Sandler Cuts First Hawaiian (NASDAQ:FHB) Price Target to $27.00

First Hawaiian (NASDAQ:FHB) had its target price reduced by Piper Sandler from $28.00 to $27.00 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

FHB has been the topic of several other reports. Zacks Research lowered shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Hawaiian in a research report on Monday, December 29th. JPMorgan Chase & Co. boosted their price target on shares of First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group set a $27.50 price objective on shares of First Hawaiian and gave the stock a “sell” rating in a research report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Tuesday, October 28th. Six analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, First Hawaiian currently has a consensus rating of “Reduce” and a consensus target price of $27.50.

First Hawaiian Stock Performance

Shares of First Hawaiian stock opened at $27.12 on Monday. The stock has a 50 day moving average of $26.25 and a 200 day moving average of $25.29. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.89 and a beta of 0.73. First Hawaiian has a fifty-two week low of $20.32 and a fifty-two week high of $28.35.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, January 30th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.The company had revenue of $199.68 million for the quarter, compared to the consensus estimate of $225.33 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. Analysts forecast that First Hawaiian will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 3.8%. First Hawaiian’s dividend payout ratio (DPR) is currently 47.27%.

Insider Activity

In other news, insider Alan Arizumi sold 36,460 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.35, for a total transaction of $924,261.00. Following the completion of the transaction, the insider directly owned 37,508 shares of the company’s stock, valued at approximately $950,827.80. The trade was a 49.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in First Hawaiian during the 4th quarter worth approximately $979,000. Crossmark Global Holdings Inc. lifted its position in shares of First Hawaiian by 117.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 56,310 shares of the bank’s stock worth $1,425,000 after purchasing an additional 30,400 shares during the last quarter. Ballentine Partners LLC purchased a new stake in shares of First Hawaiian during the 4th quarter worth $214,000. Crestwood Advisors Group LLC acquired a new position in shares of First Hawaiian during the fourth quarter worth $206,000. Finally, Sequoia Financial Advisors LLC increased its holdings in First Hawaiian by 34.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 21,844 shares of the bank’s stock valued at $553,000 after buying an additional 5,567 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

About First Hawaiian

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.