Wall Street Zen cut shares of First Hawaiian (NASDAQ:FHB – Free Report) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.
FHB has been the topic of a number of other research reports. Zacks Research lowered First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. TD Cowen reduced their price objective on shares of First Hawaiian from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Hawaiian in a research report on Friday, October 2nd. JPMorgan Chase & Co. upgraded shares of First Hawaiian from an “underweight” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $29.00 in a research report on Thursday, October 1st. Finally, Wells Fargo & Company lowered their target price on shares of First Hawaiian from $28.00 to $26.00 and set an “underweight” rating for the company in a research note on Wednesday, September 30th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, First Hawaiian presently has an average rating of “Hold” and an average price target of $29.00.
Check Out Our Latest Analysis on FHB
First Hawaiian Stock Performance
Shares of NASDAQ:FHB opened at $25.34 on Friday. The firm has a 50 day moving average of $25.54 and a 200-day moving average of $26.58. The stock has a market capitalization of $3.08 billion, a PE ratio of 11.36, a PEG ratio of 1.31 and a beta of 0.76. First Hawaiian has a 12 month low of $23.26 and a 12 month high of $30.58.
First Hawaiian (NASDAQ:FHB – Get Free Report) last released its quarterly earnings data on Friday, October 23rd. The bank reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.07). First Hawaiian had a net margin of 23.73% and a return on equity of 9.83%. The business had revenue of $230.23 million during the quarter, compared to analyst estimates of $229.20 million. During the same period last year, the business earned $0.59 earnings per share. On average, research analysts predict that First Hawaiian will post 2.39 EPS for the current fiscal year.
First Hawaiian Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Monday, November 16th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.04 annualized dividend and a yield of 4.1%. First Hawaiian’s dividend payout ratio (DPR) is presently 46.64%.
Institutional Investors Weigh In On First Hawaiian
Several institutional investors have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI increased its position 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 valued at $217,000 after acquiring an additional 832 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in First Hawaiian by 10.3% during the third quarter. Fifth Third Wealth Advisors LLC now owns 10,073 shares of the bank’s stock worth $248,000 after acquiring an additional 939 shares during the period. Root Financial Partners LLC bought a new stake in First Hawaiian during the third quarter worth $31,000. SummerHaven Investment Management LLC lifted its holdings in First Hawaiian by 28.0% during the third quarter. SummerHaven Investment Management LLC now owns 35,972 shares of the bank’s stock worth $833,000 after acquiring an additional 7,878 shares during the period. Finally, Pension & Wealth Management Advisors Inc. purchased a new position in First Hawaiian in the third quarter worth $30,000. Institutional investors own 97.63% of the company’s stock.
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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