First Hawaiian (NASDAQ:FHB) Cut to “Hold” at Zacks Research

Zacks Research cut shares of First Hawaiian (NASDAQ:FHB) from a strong-buy rating to a hold rating in a research note published on Thursday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. Weiss Ratings cut First Hawaiian from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 22nd. JPMorgan Chase & Co. increased their price objective on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Tuesday, December 16th. Keefe, Bruyette & Woods increased their target price on First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 28th. Piper Sandler boosted their target price on First Hawaiian from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Finally, TD Cowen assumed coverage on shares of First Hawaiian in a research report on Thursday, September 25th. They issued a “hold” rating and a $27.00 price objective for the company. Seven research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, First Hawaiian has an average rating of “Reduce” and an average target price of $27.71.

First Hawaiian Price Performance

NASDAQ FHB opened at $26.06 on Thursday. The company has a market cap of $3.22 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.66 and a beta of 0.74. First Hawaiian has a 1-year low of $20.32 and a 1-year high of $28.28. The stock has a 50-day moving average of $25.03 and a two-hundred day moving average of $24.96.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Monday, August 9th. The bank reported $0.44 earnings per share for the quarter. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%.The business had revenue of $129.16 million during the quarter. On average, analysts anticipate that First Hawaiian will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, November 17th. First Hawaiian’s dividend payout ratio is presently 50.73%.

Insider Transactions at First Hawaiian

In other First Hawaiian news, insider Alan Arizumi sold 6,566 shares of First Hawaiian stock in a transaction that occurred 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 sale, the insider directly owned 1,962 shares in the company, valued at $49,717.08. The trade was a 76.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of First Hawaiian

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC bought a new position in shares of First Hawaiian in the second quarter worth $338,000. Capital Fund Management S.A. bought a new stake in shares of First Hawaiian during the 2nd quarter worth about $1,098,000. D.A. Davidson & CO. boosted its holdings in shares of First Hawaiian by 11.2% in the second quarter. D.A. Davidson & CO. now owns 15,104 shares of the bank’s stock valued at $375,000 after acquiring an additional 1,519 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of First Hawaiian by 11.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,325,860 shares of the bank’s stock valued at $33,093,000 after acquiring an additional 135,809 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in First Hawaiian during the first quarter worth approximately $460,000. 97.63% of the stock is owned by institutional investors and hedge funds.

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.