First Hawaiian (NASDAQ:FHB) Price Target Cut to $18.00

First Hawaiian (NASDAQ:FHB) had its target price decreased by Wells Fargo & Company from $20.00 to $18.00 in a report released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the bank’s stock.

Separately, Barclays dropped their target price on First Hawaiian from $25.00 to $24.00 and set an equal weight rating on the stock in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of Reduce and a consensus target price of $21.50.

First Hawaiian Price Performance

NASDAQ FHB opened at $20.76 on Tuesday. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 11.93 and a beta of 0.98. The company has a 50 day simple moving average of $20.94 and a 200-day simple moving average of $21.38. First Hawaiian has a 52-week low of $17.18 and a 52-week high of $23.22.

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

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date was Friday, May 17th. First Hawaiian’s dividend payout ratio is presently 59.77%.

Hedge Funds Weigh In On First Hawaiian

Several institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC increased its holdings in shares of First Hawaiian by 196.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,253 shares of the bank’s stock valued at $27,000 after acquiring an additional 831 shares during the last quarter. GAMMA Investing LLC acquired a new position in First Hawaiian during the fourth quarter valued at approximately $37,000. Quent Capital LLC raised its position in shares of First Hawaiian by 86.5% in the fourth quarter. Quent Capital LLC now owns 1,759 shares of the bank’s stock valued at $40,000 after purchasing an additional 816 shares during the period. TFO Wealth Partners LLC lifted its stake in shares of First Hawaiian by 35,620.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,786 shares of the bank’s stock worth $41,000 after buying an additional 1,781 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of First Hawaiian during the 1st quarter worth $42,000. 97.63% of the stock is currently owned by institutional investors.

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.