First Hawaiian (NASDAQ:FHB) Shares Break Below 50-Day Moving Average – Here’s What Happened
by Scott Moore · The Cerbat GemFirst Hawaiian, Inc. (NASDAQ:FHB – Get Free Report) shares crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $25.36 and traded as low as $25.07. First Hawaiian shares last traded at $25.20, with a volume of 2,041,942 shares changing hands.
Wall Street Analysts Forecast Growth
FHB has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of First Hawaiian in a research note on Friday, October 2nd. Piper Sandler raised their price target on shares of First Hawaiian from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, October 26th. TD Cowen dropped their price objective on shares of First Hawaiian from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, October 5th. Wall Street Zen lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Finally, Barclays lifted their price objective on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, First Hawaiian has a consensus rating of “Hold” and an average price target of $29.00.
View Our Latest Stock Analysis on First Hawaiian
First Hawaiian Price Performance
The stock’s 50-day moving average is $25.36 and its 200 day moving average is $26.55. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.35 and a beta of 0.76.
First Hawaiian (NASDAQ:FHB – Get Free Report) last posted its earnings results on Friday, October 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.07). First Hawaiian had a net margin of 23.73% and a return on equity of 9.83%. The company had revenue of $230.23 million during the quarter, compared to analysts’ expectations of $229.20 million. During the same period in the previous year, the company posted $0.59 EPS. Analysts anticipate that First Hawaiian, Inc. will post 2.30 EPS for the current year.
First Hawaiian Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, November 16th. This represents a $1.04 annualized dividend and a yield of 4.1%. First Hawaiian’s dividend payout ratio is 46.64%.
Institutional Trading of First Hawaiian
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd increased its holdings in shares of First Hawaiian by 15.0% in the third quarter. Covestor Ltd now owns 3,900 shares of the bank’s stock valued at $96,000 after purchasing an additional 509 shares in the last quarter. CKW Financial Group lifted its position in First Hawaiian by 11.4% during the third quarter. CKW Financial Group now owns 35,744 shares of the bank’s stock worth $890,000 after acquiring an additional 3,644 shares during the last quarter. Choreo LLC raised its stake in First Hawaiian by 9.1% in the third quarter. Choreo LLC now owns 26,651 shares of the bank’s stock valued at $656,000 after purchasing an additional 2,226 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of First Hawaiian by 10.4% during the third quarter. Citizens Financial Group Inc. RI now owns 8,797 shares of the bank’s stock worth $217,000 after buying an additional 832 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in First Hawaiian by 10.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 10,073 shares of the bank’s stock worth $248,000 after buying an additional 939 shares during the period. 97.63% of the stock is currently owned by institutional investors.
About First Hawaiian
First Hawaiian, Inc is the parent company of First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858, First Hawaiian Bank is the oldest bank in Hawaii and serves consumers, businesses, and government entities across the Pacific.
The bank provides a broad range of financial products and services, including checking and savings accounts, consumer and residential loans, commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.
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