Wells Fargo & Company Cuts First Hawaiian (NASDAQ:FHB) Price Target to $18.00

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

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

First Hawaiian Price Performance

Shares of NASDAQ FHB opened at $20.47 on Tuesday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 11.76 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 firm’s 50 day simple moving average is $20.95 and its 200-day simple moving average is $21.38.

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

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.04 dividend on an annualized basis and a yield of 5.08%. First Hawaiian’s dividend payout ratio is currently 59.77%.

Institutional Investors Weigh In On First Hawaiian

A number of institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its stake in First Hawaiian by 196.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,253 shares of the bank’s stock worth $27,000 after purchasing an additional 831 shares during the last quarter. GAMMA Investing LLC acquired a new stake in First Hawaiian during the 4th quarter worth $37,000. Quent Capital LLC boosted its stake in First Hawaiian by 86.5% during the 4th quarter. Quent Capital LLC now owns 1,759 shares of the bank’s stock worth $40,000 after purchasing an additional 816 shares during the last quarter. TFO Wealth Partners LLC boosted its stake in First Hawaiian by 35,620.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,786 shares of the bank’s stock worth $41,000 after purchasing an additional 1,781 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in First Hawaiian during the 1st quarter worth $42,000. 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.