Barclays Cuts First Hawaiian (NASDAQ:FHB) Price Target to $24.00

First Hawaiian (NASDAQ:FHB) had its price target reduced by Barclays from $25.00 to $24.00 in a report published on Monday, Benzinga reports. Barclays currently has an equal weight rating on the bank’s stock.

First Hawaiian Price Performance

First Hawaiian stock opened at $20.29 on Monday. The stock has a market capitalization of $2.59 billion, a PE ratio of 11.66 and a beta of 0.98. First Hawaiian has a 12 month low of $17.18 and a 12 month high of $23.22. The business has a 50 day simple moving average of $20.95 and a 200-day simple moving average of $21.40.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, April 26th. The bank reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $205.80 million during the quarter, compared to analysts’ expectations of $202.41 million. First Hawaiian had a return on equity of 9.16% and a net margin of 19.20%. On average, equities research analysts anticipate that First Hawaiian will post 1.71 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 5.13%. The ex-dividend date was Friday, May 17th. First Hawaiian’s dividend payout ratio (DPR) is presently 59.77%.

Hedge Funds Weigh In On First Hawaiian

Several hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in shares of First Hawaiian by 17.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock valued at $186,842,000 after acquiring an additional 1,561,662 shares during the last quarter. Norges Bank purchased a new position in First Hawaiian in the 4th quarter valued at approximately $32,689,000. Hotchkis & Wiley Capital Management LLC increased its stake in First Hawaiian by 124.3% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock valued at $58,079,000 after purchasing an additional 1,408,160 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in First Hawaiian by 17.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock valued at $103,082,000 after purchasing an additional 668,871 shares in the last quarter. Finally, Reinhart Partners LLC. increased its position in First Hawaiian by 10.2% during the fourth quarter. Reinhart Partners LLC. now owns 2,251,009 shares of the bank’s stock worth $51,458,000 after buying an additional 207,652 shares in the last quarter. Institutional investors and hedge funds own 97.63% 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 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.