First Hawaiian Inc (FHB) Receives $32.20 Consensus PT from Brokerages
First Hawaiian Inc (NYSE:FHB) has been given an average rating of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $32.20.
A number of equities research analysts recently commented on the stock. BidaskClub raised shares of First Hawaiian from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. Barclays PLC set a $32.00 price target on shares of First Hawaiian and gave the stock a “buy” rating in a report on Wednesday, October 11th. UBS Group AG (USA) raised their price target on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Finally, Zacks Investment Research cut shares of First Hawaiian from a “buy” rating to a “hold” rating in a report on Monday, July 17th.
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First Hawaiian (NYSE:FHB) traded down $0.09 during trading hours on Wednesday, reaching $29.37. 127,313 shares of the company were exchanged, compared to its average volume of 250,661. First Hawaiian has a 12 month low of $26.27 and a 12 month high of $35.47.
First Hawaiian (NYSE:FHB) last posted its earnings results on Thursday, October 26th. The bank reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42. First Hawaiian had a net margin of 32.09% and a return on equity of 9.12%. The company had revenue of $133.32 million during the quarter, compared to analysts’ expectations of $136.44 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. First Hawaiian’s revenue for the quarter was up 8.7% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Monday, November 27th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.00%.
Several large investors have recently added to or reduced their stakes in FHB. Janus Henderson Group PLC acquired a new stake in shares of First Hawaiian in the second quarter worth $127,437,000. Vanguard Group Inc. increased its stake in shares of First Hawaiian by 149.2% in the first quarter. Vanguard Group Inc. now owns 3,908,897 shares of the bank’s stock worth $116,954,000 after acquiring an additional 2,340,324 shares during the period. FMR LLC increased its stake in shares of First Hawaiian by 222.8% in the second quarter. FMR LLC now owns 1,751,392 shares of the bank’s stock worth $53,627,000 after acquiring an additional 1,208,748 shares during the period. Bank of New York Mellon Corp increased its stake in shares of First Hawaiian by 272.2% in the second quarter. Bank of New York Mellon Corp now owns 898,095 shares of the bank’s stock worth $27,499,000 after acquiring an additional 656,786 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of First Hawaiian by 19.6% in the second quarter. JPMorgan Chase & Co. now owns 3,647,583 shares of the bank’s stock worth $111,689,000 after acquiring an additional 597,492 shares during the period.
First Hawaiian Company Profile
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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