First Hawaiian (NASDAQ:FHB) Stock Price Target Lowered at TD Cowen

First Hawaiian (NASDAQ:FHB) had its price objective trimmed by TD Cowen from $31.00 to $28.00 in a research note published on Monday,Benzinga reports. The firm currently has a hold rating on the bank’s stock.

FHB has been the topic of a number of other research reports. Piper Sandler reduced their price objective on First Hawaiian from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. The Goldman Sachs Group increased 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. Stephens raised First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a research note on Thursday, August 6th. Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a research note on Sunday, September 27th. Finally, Barclays boosted their price target on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.00.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $25.04 on Monday. First Hawaiian has a one year low of $22.65 and a one year high of $30.58. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 1.57 and a beta of 0.76. The firm has a 50 day simple moving average of $26.29 and a 200 day simple moving average of $26.94.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $231.27 million for the quarter, compared to analysts’ expectations of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same quarter in the previous year, the firm posted $0.58 earnings per share. As a group, analysts expect that First Hawaiian will post 2.37 EPS for the current year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 17th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 annualized dividend and a dividend yield of 4.2%. First Hawaiian’s payout ratio is currently 45.22%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FHB. BlackRock Inc. bought a new stake in shares of First Hawaiian in the 2nd quarter valued at about $483,971,000. Dimensional Fund Advisors LP raised its position in shares of First Hawaiian by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,693,630 shares of the bank’s stock worth $164,927,000 after acquiring an additional 313,362 shares during the last quarter. Reinhart Partners LLC. lifted its stake in shares of First Hawaiian by 0.7% in the second quarter. Reinhart Partners LLC. now owns 2,660,876 shares of the bank’s stock worth $77,964,000 after acquiring an additional 18,977 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of First Hawaiian in the second quarter worth approximately $62,568,000. Finally, Bank of America Corp DE bought a new stake in First Hawaiian in the second quarter valued at approximately $53,105,000. 97.63% of the stock is owned by institutional investors.

About First Hawaiian

First Hawaiian, Inc is a bank holding company headquartered in Honolulu, Hawaii, and the parent company of First Hawaiian Bank. Founded in 1858, First Hawaiian Bank is one of the oldest financial institutions in Hawaii and provides banking services to consumers, businesses, and government and institutional customers.

First Hawaiian Bank offers a range of financial products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, credit cards, treasury management, online and mobile banking, and wealth management services.