First Hawaiian (NASDAQ:FHB) Announces Quarterly Earnings Results

First Hawaiian (NASDAQ:FHB) released its quarterly earnings data on Friday. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02, FiscalAI reports. The business had revenue of $220.35 million during the quarter, compared to the consensus estimate of $223.59 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same quarter in the prior year, the firm earned $0.47 EPS.

First Hawaiian Stock Performance

FHB stock traded down $0.25 during mid-day trading on Friday, reaching $26.71. 1,126,701 shares of the stock traded hands, compared to its average volume of 1,550,123. First Hawaiian has a one year low of $22.51 and a one year high of $28.35. The stock has a market capitalization of $3.28 billion, a PE ratio of 12.12, a PEG ratio of 2.80 and a beta of 0.71. The business has a 50-day moving average price of $25.30 and a two-hundred day moving average price of $25.44.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a dividend of $0.26 per share. The ex-dividend date was Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 3.9%. First Hawaiian’s payout ratio is 47.27%.

Wall Street Analyst Weigh In

FHB has been the topic of a number of research analyst reports. Wall Street Zen upgraded First Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings raised First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. TD Cowen reissued a “hold” rating on shares of First Hawaiian in a report on Monday, February 2nd. The Goldman Sachs Group set a $27.50 price target on shares of First Hawaiian and gave the stock a “sell” rating in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company increased their price objective on shares of First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, First Hawaiian currently has an average rating of “Reduce” and a consensus target price of $26.93.

Insider Activity

In related news, Director Craig Scott Wo sold 1,500 shares of First Hawaiian stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

Institutional Trading of First Hawaiian

Several institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its stake 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 valued at $27,000 after buying an additional 1,050 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after acquiring an additional 534 shares during the last quarter. Danske Bank A S purchased a new position in First Hawaiian during the 3rd quarter valued at $47,000. CIBC Private Wealth Group LLC purchased a new position in First Hawaiian during the 3rd quarter valued at $48,000. Finally, Allworth Financial LP increased its stake in First Hawaiian by 155.8% in the third quarter. Allworth Financial LP now owns 2,072 shares of the bank’s stock worth $51,000 after purchasing an additional 1,262 shares during the period. Institutional investors own 97.63% of the company’s stock.

About First Hawaiian

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.