The Goldman Sachs Group Raises First Hawaiian (NASDAQ:FHB) Price Target to $26.00

First Hawaiian (NASDAQ:FHB) had its price target hoisted by The Goldman Sachs Group from $22.00 to $26.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a sell rating on the bank’s stock.

Several other research analysts also recently weighed in on the company. Barclays boosted their price target on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Piper Sandler increased their target price on First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lowered their price target on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their price objective on shares of First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company boosted 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. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.43.

First Hawaiian Price Performance

Shares of NASDAQ FHB opened at $27.60 on Tuesday. The company has a 50-day simple moving average of $24.99 and a 200-day simple moving average of $23.25. The company has a market cap of $3.53 billion, a PE ratio of 15.77 and a beta of 0.96. First Hawaiian has a 12 month low of $18.85 and a 12 month high of $28.80.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.04 dividend on an annualized basis and a yield of 3.77%. First Hawaiian’s dividend payout ratio (DPR) is 59.43%.

Institutional Investors Weigh In On First Hawaiian

Several large investors have recently made changes to their positions in FHB. The Manufacturers Life Insurance Company raised its holdings in shares of First Hawaiian by 1.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock valued at $245,963,000 after buying an additional 122,599 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of First Hawaiian by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock valued at $108,057,000 after purchasing an additional 370,722 shares during the period. American Century Companies Inc. raised its stake 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 valued at $69,321,000 after purchasing an additional 203,407 shares during the period. Reinhart Partners LLC. boosted its stake in shares of First Hawaiian by 6.1% in the third quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock valued at $56,980,000 after purchasing an additional 141,327 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of First Hawaiian by 7.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,081,270 shares of the bank’s stock valued at $43,207,000 after purchasing an additional 139,291 shares during the period. 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.