BidaskClub upgraded shares of First Hawaiian (NASDAQ:FHB) from a sell rating to a hold rating in a report issued on Tuesday morning.
A number of other research analysts have also issued reports on FHB. Citigroup reduced their price objective on First Hawaiian from $32.00 to $26.00 and set a neutral rating for the company in a research report on Monday. Zacks Investment Research lowered First Hawaiian from a buy rating to a hold rating in a research report on Friday, August 3rd. Wells Fargo & Co set a $29.00 price target on First Hawaiian and gave the stock a hold rating in a research report on Tuesday, October 2nd. Finally, ValuEngine lowered First Hawaiian from a hold rating to a sell rating in a research report on Friday, September 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $31.44.
NASDAQ:FHB traded down $0.40 during midday trading on Tuesday, reaching $24.98. 99,487 shares of the company traded hands, compared to its average volume of 1,676,336. First Hawaiian has a twelve month low of $22.91 and a twelve month high of $32.36. The firm has a market capitalization of $3.31 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.75 and a beta of 0.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.79 and a quick ratio of 0.78.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 26th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 3.84%. First Hawaiian’s dividend payout ratio (DPR) is presently 58.18%.
In other news, Director Paribas Bnp sold 20,000,000 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $28.70, for a total value of $574,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of First Hawaiian by 1,334.4% during the third quarter. Wells Fargo & Company MN now owns 1,122,557 shares of the bank’s stock worth $30,488,000 after purchasing an additional 1,044,295 shares during the period. Comerica Bank raised its position in shares of First Hawaiian by 221.3% during the third quarter. Comerica Bank now owns 321,205 shares of the bank’s stock worth $7,747,000 after purchasing an additional 221,250 shares during the period. Victory Capital Management Inc. acquired a new position in First Hawaiian during the third quarter valued at $27,588,000. Wedge Capital Management L L P NC acquired a new position in First Hawaiian during the third quarter valued at $26,884,000. Finally, Anchor Capital Advisors LLC acquired a new position in First Hawaiian during the third quarter valued at $10,642,000. Institutional investors and hedge funds own 51.00% of the company’s stock.
About First Hawaiian
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through Retail Banking and Commercial Banking segments. The company accepts various deposit products, such as checking and savings accounts, and time deposit accounts.
Recommended Story: Rule of 72
Receive News & Ratings for First Hawaiian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Hawaiian and related companies with MarketBeat.com's FREE daily email newsletter.