First Hawaiian, Inc. (NASDAQ:FHB) Given Consensus Recommendation of “Reduce” by Analysts

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have earned an average rating of “Reduce” from the nine analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $27.5625.

FHB has been the subject of a number of research reports. Weiss Ratings raised First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. JPMorgan Chase & Co. reduced their price objective on First Hawaiian from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. TD Cowen lifted their price objective on First Hawaiian from $28.00 to $29.00 and gave the company a “hold” rating in a research report on Tuesday, April 28th. Piper Sandler lifted their price objective on First Hawaiian from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, Wall Street Zen cut First Hawaiian from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th.

Hedge Funds Weigh In On First Hawaiian

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in First Hawaiian by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock valued at $365,777,000 after buying an additional 358,632 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in First Hawaiian by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,693,630 shares of the bank’s stock valued at $164,927,000 after buying an additional 313,362 shares in the last quarter. State Street Corp raised its holdings in First Hawaiian by 1.3% during the second quarter. State Street Corp now owns 5,883,194 shares of the bank’s stock valued at $146,845,000 after buying an additional 77,478 shares in the last quarter. AQR Capital Management LLC raised its holdings in First Hawaiian by 68.6% during the fourth quarter. AQR Capital Management LLC now owns 3,720,826 shares of the bank’s stock valued at $94,137,000 after buying an additional 1,514,465 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in First Hawaiian by 131.9% during the third quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank’s stock valued at $71,800,000 after buying an additional 1,644,752 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Down 2.1%

Shares of First Hawaiian stock opened at $26.46 on Thursday. The stock has a market cap of $3.22 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74. The business has a fifty day simple moving average of $26.41 and a 200-day simple moving average of $25.96. First Hawaiian has a 12 month low of $22.65 and a 12 month high of $28.35.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $220.35 million during the quarter, compared to analyst estimates of $223.59 million. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.During the same period last year, the company earned $0.47 earnings per share. Analysts expect that First Hawaiian will post 2.33 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed 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 of this dividend was Monday, May 18th. This represents a $1.04 dividend on an annualized basis and a yield of 3.9%. First Hawaiian’s dividend payout ratio (DPR) is presently 45.61%.

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.