Wells Fargo & Company Forecasts Strong Price Appreciation for First Hawaiian (NASDAQ:FHB) Stock

First Hawaiian (NASDAQ:FHB) had its target price hoisted by Wells Fargo & Company from $20.00 to $21.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an underweight rating on the bank’s stock.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 9th. Piper Sandler upped their price objective on shares of First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. The Goldman Sachs Group lifted their target price on shares of First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a report on Monday, July 29th. Barclays raised their price objective on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods boosted their target price on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $24.33.

First Hawaiian Stock Down 1.6 %

NASDAQ FHB opened at $24.74 on Monday. The firm has a market capitalization of $3.16 billion, a PE ratio of 14.22 and a beta of 0.98. The stock’s 50 day moving average is $23.63 and its 200 day moving average is $22.48. First Hawaiian has a twelve month low of $17.71 and a twelve month high of $26.18.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Monday, November 18th. First Hawaiian’s dividend payout ratio is currently 59.77%.

Institutional Investors Weigh In On First Hawaiian

Several institutional investors have recently modified their holdings of FHB. Whittier Trust Co. lifted its stake in First Hawaiian by 68.7% during the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after acquiring an additional 507 shares during the period. Versant Capital Management Inc lifted its position in First Hawaiian by 55.7% during the second quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $39,000 after purchasing an additional 678 shares during the period. Blue Trust Inc. boosted its holdings in First Hawaiian by 51.5% in the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock worth $43,000 after purchasing an additional 625 shares during the last quarter. Abich Financial Wealth Management LLC grew its position in First Hawaiian by 48.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock worth $44,000 after purchasing an additional 652 shares during the period. Finally, GAMMA Investing LLC raised its stake in First Hawaiian by 50.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,122 shares of the bank’s stock valued at $44,000 after buying an additional 710 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Company Profile

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.