First Hawaiian (NASDAQ:FHB) Stock Breaks Below 50-Day Moving Average – Time to Sell?

First Hawaiian, Inc. (NASDAQ:FHB)’s stock price passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $25.36 and traded as low as $25.07. First Hawaiian shares last traded at $25.20, with a volume of 2,041,942 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. TD Cowen reduced their price target on First Hawaiian from $31.00 to $28.00 and set a “hold” rating for the company in a report on Monday, October 5th. Benchmark restated a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th. Wall Street Zen downgraded First Hawaiian from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. The Goldman Sachs Group upped their target price on First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, July 7th. Finally, Piper Sandler upped their target price on First Hawaiian from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.00.

First Hawaiian Stock Performance

The firm has a market capitalization of $3.07 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.37 and a beta of 0.76. The stock has a fifty day moving average price of $25.36 and a two-hundred day moving average price of $26.55.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, October 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.07). First Hawaiian had a return on equity of 9.83% and a net margin of 23.73%. The firm had revenue of $230.23 million for the quarter, compared to the consensus estimate of $229.20 million. During the same quarter last year, the business earned $0.59 earnings per share. As a group, research analysts anticipate that First Hawaiian, Inc. will post 2.30 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, November 16th. This represents a $1.04 annualized dividend and a yield of 4.1%. First Hawaiian’s payout ratio is presently 46.64%.

Institutional Trading of First Hawaiian

A number of institutional investors and hedge funds have recently modified their holdings of the business. Elevation Wealth Partners LLC lifted its position in shares of First Hawaiian by 378.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after buying an additional 738 shares during the last quarter. Anchor Investment Management LLC bought a new stake in shares of First Hawaiian during the 2nd quarter valued at about $30,000. Pension & Wealth Management Advisors Inc. bought a new stake in shares of First Hawaiian during the 3rd quarter valued at about $30,000. Root Financial Partners LLC acquired a new stake in First Hawaiian during the third quarter worth about $31,000. Finally, Global Retirement Partners LLC acquired a new stake in First Hawaiian during the second quarter worth about $51,000. 97.63% of the stock is owned by institutional investors and hedge funds.

About First Hawaiian

First Hawaiian, Inc is the parent company of First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858, First Hawaiian Bank is the oldest bank in Hawaii and serves consumers, businesses, and government entities across the Pacific.

The bank provides a broad range of financial products and services, including checking and savings accounts, consumer and residential loans, commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.