First Hawaiian (NASDAQ:FHB) Coverage Initiated by Analysts at TD Cowen

TD Cowen began coverage on shares of First Hawaiian (NASDAQ:FHB) in a research note released on Thursday, Marketbeat Ratings reports. The firm issued a hold rating and a $27.00 price objective on the bank’s stock.

Several other equities analysts have also recently weighed in on FHB. Wells Fargo & Company raised their price target on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on First Hawaiian from $25.00 to $25.50 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Piper Sandler started coverage on First Hawaiian in a research note on Thursday, August 21st. They issued a “neutral” rating and a $26.00 price objective for the company. Finally, Barclays reaffirmed an “underweight” rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Five analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, First Hawaiian presently has a consensus rating of “Reduce” and a consensus price target of $27.06.

First Hawaiian Price Performance

NASDAQ FHB opened at $25.07 on Thursday. The stock has a market capitalization of $3.12 billion, a PE ratio of 12.92, a P/E/G ratio of 6.10 and a beta of 0.89. The business has a 50 day simple moving average of $25.12 and a two-hundred day simple moving average of $24.33. First Hawaiian has a 1-year low of $20.32 and a 1-year high of $28.80.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $217.54 million during the quarter, compared to analysts’ expectations of $214.67 million. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%.During the same quarter last year, the business posted $0.48 EPS. On average, analysts anticipate that First Hawaiian will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a dividend of $0.26 per share. 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 18th. First Hawaiian’s dividend payout ratio (DPR) is currently 53.61%.

Institutional Investors Weigh In On First Hawaiian

A number of institutional investors and hedge funds have recently modified their holdings of FHB. Squarepoint Ops LLC lifted its stake in shares of First Hawaiian by 41.9% during the 4th quarter. Squarepoint Ops LLC now owns 42,849 shares of the bank’s stock worth $1,112,000 after acquiring an additional 12,646 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of First Hawaiian by 18.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 393,393 shares of the bank’s stock worth $10,209,000 after acquiring an additional 62,306 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of First Hawaiian by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 699,224 shares of the bank’s stock worth $18,145,000 after acquiring an additional 12,523 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of First Hawaiian by 65.1% during the 1st quarter. Versant Capital Management Inc now owns 3,128 shares of the bank’s stock worth $76,000 after acquiring an additional 1,233 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of First Hawaiian by 3,233.5% during the 1st quarter. GAMMA Investing LLC now owns 120,807 shares of the bank’s stock worth $2,953,000 after acquiring an additional 117,183 shares during the last quarter. 97.63% of the stock is owned by institutional investors.

First Hawaiian Company Profile

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 in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.