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

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have received a consensus rating of “Reduce” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.9286.

FHB has been the topic of several research reports. Weiss Ratings raised First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Zacks Research cut First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. The Goldman Sachs Group set a $27.50 price objective on First Hawaiian and gave the company a “sell” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. lowered their price objective on First Hawaiian from $29.00 to $25.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. Finally, Piper Sandler lowered their price objective on First Hawaiian from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd.

Insider Buying and Selling at First Hawaiian

In other news, Director Craig Scott Wo sold 1,500 shares of First Hawaiian stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $27.21, for a total transaction of $40,815.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Elo Mutual Pension Insurance Co lifted its holdings in First Hawaiian by 94.2% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 51,139 shares of the bank’s stock worth $1,270,000 after purchasing an additional 24,805 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in First Hawaiian by 840.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 92,268 shares of the bank’s stock worth $2,291,000 after purchasing an additional 82,453 shares in the last quarter. SG Americas Securities LLC lifted its holdings in First Hawaiian by 409.2% in the 4th quarter. SG Americas Securities LLC now owns 89,506 shares of the bank’s stock worth $2,265,000 after purchasing an additional 71,927 shares in the last quarter. AlphaQuest LLC lifted its holdings in First Hawaiian by 7,621.5% in the 3rd quarter. AlphaQuest LLC now owns 168,484 shares of the bank’s stock worth $4,183,000 after purchasing an additional 166,302 shares in the last quarter. Finally, CWM LLC lifted its holdings in First Hawaiian by 268.1% in the 3rd quarter. CWM LLC now owns 59,182 shares of the bank’s stock worth $1,469,000 after purchasing an additional 43,103 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB opened at $25.68 on Wednesday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.98 and a beta of 0.71. The stock’s 50-day simple moving average is $25.35 and its two-hundred day simple moving average is $25.30. First Hawaiian has a 52-week low of $20.32 and a 52-week high of $28.35.

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

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, February 13th. First Hawaiian’s payout ratio is presently 47.27%.

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.