First Hawaiian (NASDAQ:FHB) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of First Hawaiian (NASDAQ:FHB) from a sell rating to a hold rating in a research report released on Saturday morning.

A number of other research firms also recently issued reports on FHB. Piper Sandler cut their price objective on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. JPMorgan Chase & Co. raised their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Monday, February 2nd. Zacks Research cut First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Weiss Ratings restated a “hold (c+)” rating on shares of First Hawaiian in a research note on Monday, December 29th. Finally, TD Cowen reaffirmed a “hold” rating on shares of First Hawaiian in a report on Monday, February 2nd. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $27.50.

First Hawaiian Trading Down 4.4%

NASDAQ:FHB opened at $24.76 on Friday. The stock has a 50 day simple moving average of $26.44 and a 200 day simple moving average of $25.49. First Hawaiian has a 1-year low of $20.32 and a 1-year high of $28.35. The stock has a market cap of $3.06 billion, a P/E ratio of 11.25, a PEG ratio of 1.96 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.The company had revenue of $225.85 million during the quarter, compared to the consensus estimate of $225.33 million. During the same quarter last year, the firm earned $0.41 earnings per share. As a group, sell-side analysts forecast that First Hawaiian will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Friday, February 13th. First Hawaiian’s dividend payout ratio (DPR) is 47.27%.

Insider Buying and Selling at First Hawaiian

In other news, insider Alan Arizumi sold 6,566 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $25.34, for a total transaction of $166,382.44. Following the completion of the transaction, the insider owned 1,962 shares of the company’s stock, valued at approximately $49,717.08. The trade was a 76.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig Scott Wo sold 1,500 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $27.21, for a total value of $40,815.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,026 shares of company stock valued at $1,144,928 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On First Hawaiian

Several hedge funds and other institutional investors have recently made changes to their positions in FHB. Bank of Montreal Can lifted its stake in First Hawaiian by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 25,258 shares of the bank’s stock valued at $630,000 after purchasing an additional 422 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of First Hawaiian by 74.9% during the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock worth $25,000 after buying an additional 438 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of First Hawaiian by 9.4% during the fourth quarter. GAMMA Investing LLC now owns 5,626 shares of the bank’s stock worth $142,000 after buying an additional 485 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after acquiring an additional 534 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of First Hawaiian by 5.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,941 shares of the bank’s stock valued at $272,000 after acquiring an additional 567 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

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.