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

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have been given a consensus rating of “Reduce” by the four research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and three have issued a hold rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $21.20.

Several research firms recently commented on FHB. Wells Fargo & Company dropped their target price on First Hawaiian from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 4th. The Goldman Sachs Group raised their price objective on shares of First Hawaiian from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Monday, July 31st. Finally, StockNews.com assumed coverage on shares of First Hawaiian in a research report on Thursday, October 5th. They issued a “sell” rating on the stock.

First Hawaiian Trading Down 0.5 %

NASDAQ FHB opened at $19.39 on Thursday. The stock has a fifty day simple moving average of $18.12 and a 200-day simple moving average of $18.50. The stock has a market cap of $2.47 billion, a PE ratio of 9.28 and a beta of 1.04. First Hawaiian has a twelve month low of $15.08 and a twelve month high of $28.28.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, October 27th. The bank reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. First Hawaiian had a net margin of 24.88% and a return on equity of 11.48%. The firm had revenue of $285.90 million during the quarter, compared to analysts’ expectations of $199.36 million. During the same quarter in the previous year, the business posted $0.54 earnings per share. Research analysts predict that First Hawaiian will post 1.93 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 20th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.04 annualized dividend and a dividend yield of 5.36%. First Hawaiian’s dividend payout ratio (DPR) is currently 49.76%.

Hedge Funds Weigh In On First Hawaiian

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. increased its stake in First Hawaiian by 8.5% in the 1st quarter. Citigroup Inc. now owns 140,077 shares of the bank’s stock valued at $3,907,000 after purchasing an additional 10,978 shares in the last quarter. Natixis Advisors L.P. grew its holdings in shares of First Hawaiian by 47.5% during the 1st quarter. Natixis Advisors L.P. now owns 19,082 shares of the bank’s stock worth $532,000 after purchasing an additional 6,147 shares during the period. MetLife Investment Management LLC purchased a new position in shares of First Hawaiian in the first quarter valued at $71,000. Rhumbline Advisers grew its stake in shares of First Hawaiian by 0.5% during the first quarter. Rhumbline Advisers now owns 313,549 shares of the bank’s stock valued at $8,745,000 after acquiring an additional 1,501 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of First Hawaiian by 1.3% during the first quarter. Great West Life Assurance Co. Can now owns 114,424 shares of the bank’s stock worth $3,272,000 after purchasing an additional 1,452 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates through three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, include checking and savings accounts, and other deposit accounts.