First Hawaiian (NASDAQ:FHB) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of First Hawaiian (NASDAQ:FHB) from a hold rating to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on FHB. The Goldman Sachs Group boosted their price objective on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, July 7th. Benchmark reiterated a “hold” rating on shares of First Hawaiian in a report on Tuesday. Stephens set a $28.00 target price on First Hawaiian in a research note on Monday, April 27th. TD Cowen raised their target price on First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Tuesday, April 28th. Finally, Barclays boosted their price target on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, First Hawaiian has a consensus rating of “Hold” and a consensus target price of $29.25.

First Hawaiian Stock Performance

Shares of First Hawaiian stock opened at $29.72 on Wednesday. First Hawaiian has a 52-week low of $22.65 and a 52-week high of $30.58. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 1.57 and a beta of 0.72. The company’s 50 day moving average price is $28.11 and its 200-day moving average price is $26.72.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, April 24th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $220.35 million for the quarter, compared to the consensus estimate of $223.59 million. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. During the same period in the previous year, the firm earned $0.47 earnings per share. As a group, equities research analysts forecast that First Hawaiian will post 2.38 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.26 per share. The ex-dividend date was Monday, May 18th. This represents a $1.04 annualized dividend and a dividend yield of 3.5%. First Hawaiian’s payout ratio is currently 45.61%.

Hedge Funds Weigh In On First Hawaiian

A number of institutional investors have recently bought and sold shares of FHB. Hennion & Walsh Asset Management Inc. bought a new stake in First Hawaiian during the 2nd quarter valued at approximately $220,000. Reinhart Partners LLC. grew its holdings in shares of First Hawaiian by 0.7% during the 2nd quarter. Reinhart Partners LLC. now owns 2,660,876 shares of the bank’s stock worth $77,964,000 after acquiring an additional 18,977 shares during the period. Elevation Wealth Partners LLC raised its position in shares of First Hawaiian by 378.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after acquiring an additional 738 shares in the last quarter. GAMMA Investing LLC raised its position in shares of First Hawaiian by 14.6% in the 2nd quarter. GAMMA Investing LLC now owns 7,021 shares of the bank’s stock worth $206,000 after acquiring an additional 897 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of First Hawaiian by 56.3% in the 2nd quarter. Versant Capital Management Inc now owns 12,972 shares of the bank’s stock valued at $380,000 after purchasing an additional 4,670 shares during the period. 97.63% of the stock is owned by institutional investors.

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.