First Hawaiian (NASDAQ:FHB) Now Covered by Stephens

Stephens initiated coverage on shares of First Hawaiian (NASDAQ:FHB) in a report published on Wednesday, MarketBeat reports. The firm issued an equal weight rating and a $30.00 price target on the bank’s stock.

FHB has been the subject of several other research reports. The Goldman Sachs Group raised their price target on First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a report on Tuesday, November 26th. Wells Fargo & Company raised their target price on shares of First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.43.

First Hawaiian Stock Up 0.0 %

FHB opened at $27.61 on Wednesday. First Hawaiian has a 52 week low of $19.43 and a 52 week high of $28.80. The firm has a 50-day simple moving average of $25.06 and a two-hundred day simple moving average of $23.29. The company has a market capitalization of $3.53 billion, a PE ratio of 15.78 and a beta of 0.96.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.77%. First Hawaiian’s dividend payout ratio is presently 59.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Raymond James & Associates grew its holdings in shares of First Hawaiian by 5.5% in the second quarter. Raymond James & Associates now owns 1,079,969 shares of the bank’s stock worth $22,420,000 after purchasing an additional 56,445 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in First Hawaiian by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock worth $218,025,000 after acquiring an additional 942,634 shares in the last quarter. American Century Companies Inc. increased its position in shares of First Hawaiian by 6.5% during the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after acquiring an additional 203,407 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of First Hawaiian by 100.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the bank’s stock valued at $80,000 after acquiring an additional 1,943 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of First Hawaiian during the second quarter valued at approximately $462,000. Institutional investors 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.