First Hawaiian, Inc. (NASDAQ:FHB – Get Rating) declared a quarterly dividend on Wednesday, July 27th, Zacks reports. Investors of record on Monday, August 22nd will be paid a dividend of 0.26 per share by the bank on Friday, September 2nd. This represents a $1.04 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Friday, August 19th.
First Hawaiian has increased its dividend by an average of 2.7% per year over the last three years. First Hawaiian has a dividend payout ratio of 45.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Hawaiian to earn $2.27 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 45.8%.
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First Hawaiian Trading Up 0.1 %
FHB stock opened at $27.79 on Wednesday. The firm's 50-day moving average price is $23.88 and its two-hundred day moving average price is $26.04. First Hawaiian has a 12-month low of $21.21 and a 12-month high of $31.16. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 15.02 and a beta of 1.15.
Analyst Upgrades and Downgrades
FHB has been the topic of a number of analyst reports. StockNews.com cut shares of First Hawaiian from a "hold" rating to a "sell" rating in a research report on Monday, May 23rd. Wells Fargo & Company cut their target price on shares of First Hawaiian from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Monday, April 25th. Finally, Keefe, Bruyette & Woods lowered shares of First Hawaiian from an "outperform" rating to a "market perform" rating and set a $34.00 target price on the stock. in a research note on Sunday, April 24th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, First Hawaiian presently has a consensus rating of "Hold" and an average target price of $30.50.
Institutional Investors Weigh In On First Hawaiian
Hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new position in shares of First Hawaiian in the second quarter worth approximately $50,000. MetLife Investment Management LLC bought a new position in shares of First Hawaiian in the first quarter worth approximately $71,000. Covestor Ltd lifted its stake in shares of First Hawaiian by 68.0% in the first quarter. Covestor Ltd now owns 2,555 shares of the bank's stock worth $71,000 after buying an additional 1,034 shares in the last quarter. First Republic Investment Management Inc. bought a new position in shares of First Hawaiian in the second quarter worth approximately $204,000. Finally, Walleye Capital LLC bought a new position in shares of First Hawaiian in the first quarter worth approximately $272,000.
About First Hawaiian
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First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, including checking and savings accounts, and other deposit accounts.
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