First Hawaiian (NASDAQ:FHB) Reaches New 52-Week High – Here’s Why

First Hawaiian, Inc. (NASDAQ:FHB) shares hit a new 52-week high on Wednesday . The stock traded as high as $27.81 and last traded at $27.67, with a volume of 8715 shares traded. The stock had previously closed at $25.40.

Analyst Ratings Changes

Several brokerages have recently issued reports on FHB. The Goldman Sachs Group boosted their price objective on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a report on Monday, July 29th. Wells Fargo & Company upped their price target on First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods raised their price objective on First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their target price on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 9th. Finally, Barclays lifted their price target on shares of First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, First Hawaiian has a consensus rating of “Reduce” and a consensus target price of $24.33.

First Hawaiian Stock Up 10.4 %

The company has a 50-day moving average of $23.69 and a 200 day moving average of $22.60. The stock has a market capitalization of $3.59 billion, a PE ratio of 14.51 and a beta of 0.96.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s payout ratio is 59.43%.

Institutional Trading of First Hawaiian

A number of hedge funds have recently bought and sold shares of FHB. The Manufacturers Life Insurance Company boosted its holdings in shares of First Hawaiian by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock worth $218,025,000 after purchasing an additional 942,634 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in First Hawaiian by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock worth $108,057,000 after buying an additional 370,722 shares in the last quarter. American Century Companies Inc. boosted its stake in 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 buying an additional 203,407 shares during the last quarter. Reinhart Partners LLC. grew its holdings in First Hawaiian by 6.1% in the 3rd quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock valued at $56,980,000 after buying an additional 141,327 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in First Hawaiian by 7.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,081,270 shares of the bank’s stock valued at $43,207,000 after buying an additional 139,291 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

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.