First Hawaiian, Inc. (NASDAQ:FHB) Given Average Recommendation of “Reduce” by Brokerages

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have received a consensus rating of “Reduce” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $27.5625.

Several equities analysts have weighed in on FHB shares. TD Cowen increased their target price on First Hawaiian from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Tuesday, April 28th. Piper Sandler increased their target price on First Hawaiian from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Wells Fargo & Company increased their target price on First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, March 30th. JPMorgan Chase & Co. cut their target price on First Hawaiian from $29.00 to $25.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Finally, Wall Street Zen lowered First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday.

First Hawaiian Stock Down 0.3%

First Hawaiian stock opened at $27.34 on Friday. First Hawaiian has a 12-month low of $22.65 and a 12-month high of $28.35. The business’s 50-day simple moving average is $25.49 and its 200 day simple moving average is $25.64. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 2.01 and a beta of 0.75.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.The firm had revenue of $220.35 million for the quarter, compared to analyst estimates of $223.59 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, sell-side analysts expect that First Hawaiian will post 2.33 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.04 annualized dividend and a yield of 3.8%. First Hawaiian’s dividend payout ratio is presently 45.61%.

Institutional Investors Weigh In On First Hawaiian

Hedge funds have recently modified their holdings of the business. Eurizon Capital SGR S.p.A. acquired a new stake in shares of First Hawaiian during the fourth quarter worth about $26,000. Farther Finance Advisors LLC raised its position in shares of First Hawaiian by 74.9% during the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock worth $25,000 after purchasing an additional 438 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of First Hawaiian by 2,916.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after purchasing an additional 1,050 shares during the period. Global Retirement Partners LLC raised its position in shares of First Hawaiian by 45.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of First Hawaiian during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.