First Hawaiian (FHB) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of First Hawaiian (NASDAQ:FHB) from a buy rating to a hold rating in a report released on Tuesday.

According to Zacks, “First Hawaiian, Inc. offers banking services to consumer and commercial customers which includes deposit products, lending services and wealth management, insurance, private banking and trust services. First Hawaiian Inc. is based in San Francisco, California. “

Several other analysts have also commented on FHB. BidaskClub lowered shares of First Hawaiian from a buy rating to a hold rating in a research report on Saturday, June 30th. ValuEngine lowered shares of First Hawaiian from a hold rating to a sell rating in a research report on Friday, September 28th. Finally, Wells Fargo & Co set a $29.00 price target on shares of First Hawaiian and gave the company a hold rating in a research report on Tuesday, October 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $32.11.

NASDAQ:FHB traded down $0.20 during mid-day trading on Tuesday, reaching $25.53. The company’s stock had a trading volume of 2,224,192 shares, compared to its average volume of 901,003. First Hawaiian has a 1 year low of $24.77 and a 1 year high of $32.36. The firm has a market cap of $3.66 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.39 and a beta of 0.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Thursday, July 26th. The bank reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. First Hawaiian had a net margin of 25.59% and a return on equity of 10.13%. The company had revenue of $141.40 million during the quarter, compared to analyst estimates of $140.18 million. During the same period in the prior year, the firm earned $0.41 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Sell-side analysts anticipate that First Hawaiian will post 2.04 EPS for the current fiscal year.

In other First Hawaiian news, Director Paribas Bnp sold 20,000,000 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $28.70, for a total transaction of $574,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in FHB. San Francisco Sentry Investment Group CA raised its position in shares of First Hawaiian by 106.4% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 3,570 shares of the bank’s stock valued at $104,000 after purchasing an additional 1,840 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of First Hawaiian in the 1st quarter valued at approximately $120,000. Macquarie Group Ltd. purchased a new position in shares of First Hawaiian in the 2nd quarter valued at approximately $148,000. SG Americas Securities LLC purchased a new position in shares of First Hawaiian in the 2nd quarter valued at approximately $175,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of First Hawaiian in the 1st quarter valued at approximately $215,000. 50.68% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Company Profile

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 Retail Banking and Commercial Banking segments. The company accepts various deposit products, such as checking and savings accounts, and time deposit accounts.

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