First Hawaiian, Inc. (NASDAQ:FHB) Receives Consensus Rating of "Reduce" from Analysts

Key Points

• Analysts rate First Hawaiian “Reduce” overall: Three analysts recommend selling, six recommend holding, and two recommend buying. The average 12-month price target is $30.25, above the recent $26.07 share price.
• Recent quarterly results exceeded expectations: First Hawaiian reported earnings of $0.60 per share versus the $0.58 consensus estimate, while revenue reached $231.27 million, ahead of the $227.77 million forecast.
• The bank maintains a sizable dividend and strong institutional ownership: Its quarterly dividend is $0.26 per share, equivalent to a 4.0% yield, while institutional investors own 97.63% of outstanding shares.

Shares of First Hawaiian, Inc. (NASDAQ:FHB - Get Free Report) have been assigned a consensus rating of "Reduce" from the eleven brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $30.25.

A number of analysts have recently weighed in on FHB shares. Barclays increased their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 7th. Piper Sandler boosted their target price on shares of First Hawaiian from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. The Goldman Sachs Group upped their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the company a "sell" rating in a report on Tuesday, July 7th. TD Cowen cut their price target on First Hawaiian from $32.00 to $31.00 and set a "hold" rating on the stock in a research report on Wednesday, July 29th. Finally, Benchmark reiterated a "hold" rating on shares of First Hawaiian in a research note on Tuesday, July 14th.

Institutional Trading of First Hawaiian

A number of hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LP grew its position in First Hawaiian by 76.7% during the second quarter. Corient Private Wealth LP now owns 105,503 shares of the bank's stock valued at $3,091,000 after buying an additional 45,810 shares during the period. Amundi raised its position in shares of First Hawaiian by 29.4% in the second quarter. Amundi now owns 27,917 shares of the bank's stock worth $818,000 after acquiring an additional 6,349 shares during the period. HighTower Advisors LLC boosted its stake in shares of First Hawaiian by 60.0% during the 2nd quarter. HighTower Advisors LLC now owns 14,704 shares of the bank's stock worth $431,000 after acquiring an additional 5,513 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of First Hawaiian during the 2nd quarter worth about $1,781,000. Finally, California State Teachers Retirement System grew its position in shares of First Hawaiian by 2,436.8% during the 2nd quarter. California State Teachers Retirement System now owns 4,117,676 shares of the bank's stock valued at $120,648,000 after acquiring an additional 3,955,356 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Up 0.3%

Shares of NASDAQ FHB opened at $26.07 on Friday. The business's 50 day moving average price is $27.94 and its 200 day moving average price is $26.88. The firm has a market cap of $3.17 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.64 and a beta of 0.72. First Hawaiian has a 52 week low of $22.65 and a 52 week high of $30.58.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The company had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. During the same quarter in the prior year, the company earned $0.58 EPS. As a group, research analysts expect that First Hawaiian will post 2.34 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 17th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, August 17th. First Hawaiian's payout ratio is 45.22%.

First Hawaiian Company Profile

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.

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