First Hawaiian (NASDAQ:FHB) Stock Rating Raised 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 note released on Sunday morning,Wall Street Zen reports.

Several other equities analysts also recently issued reports on FHB. JPMorgan Chase & Co. boosted their price objective on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th. The Goldman Sachs Group boosted their price target on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, July 7th. Wells Fargo & Company raised their price target on First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, Piper Sandler lifted their price objective on shares of First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $30.25.

First Hawaiian Price Performance

FHB stock opened at $25.25 on Friday. The stock has a market cap of $3.07 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.57 and a beta of 0.72. The firm’s 50-day simple moving average is $26.72 and its 200 day simple moving average is $26.90. First Hawaiian has a fifty-two week low of $22.65 and a fifty-two week high of $30.58.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The firm had revenue of $231.27 million during the quarter, compared to analyst estimates of $227.77 million. During the same period in the previous year, the business posted $0.58 EPS. Equities analysts forecast that First Hawaiian will post 2.37 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 17th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, August 17th. First Hawaiian’s payout ratio is currently 45.22%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Anchor Investment Management LLC bought a new stake in First Hawaiian in the second quarter worth about $30,000. Integrated Wealth Concepts LLC boosted its position in shares of First Hawaiian by 10.9% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 18,092 shares of the bank’s stock valued at $530,000 after purchasing an additional 1,773 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of First Hawaiian in the 2nd quarter worth approximately $252,000. IFP Advisors Inc grew its stake in shares of First Hawaiian by 17.9% in the 2nd quarter. IFP Advisors Inc now owns 3,231 shares of the bank’s stock worth $95,000 after purchasing an additional 491 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of First Hawaiian by 150.3% in the 2nd quarter. Allworth Financial LP now owns 7,504 shares of the bank’s stock worth $220,000 after purchasing an additional 4,506 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Company Profile

First Hawaiian, Inc (NASDAQ: FHB) is the holding company for First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858 as Bishop & Company, First Hawaiian Bank is the oldest bank in Hawaii and provides banking and financial services to consumers, businesses and government organizations.

The bank offers deposit accounts, residential and commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.