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

Key Points

• First Hawaiian received an average analyst rating of "Reduce" from 10 covering firms, with three sell ratings, six hold ratings, and one buy rating. The consensus 12-month price target is $29.25.
• The bank reported better-than-expected earnings of $0.55 per share in its latest quarter, topping estimates by $0.02. Revenue came in slightly below expectations at $220.35 million.
• First Hawaiian also paid a quarterly dividend of $0.26, equal to an annualized yield of 3.5%. The company is the oldest and largest bank in Hawaii and serves customers across Hawaii and several Pacific islands.

First Hawaiian, Inc. (NASDAQ:FHB - Get Free Report) has received an average recommendation of "Reduce" from the ten ratings firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $29.25.

Several equities analysts recently commented on the company. Barclays boosted their price target on First Hawaiian from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. TD Cowen increased their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the company a "hold" rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a "buy (b)" rating on shares of First Hawaiian in a research note on Monday, July 6th. Benchmark reissued a "hold" rating on shares of First Hawaiian in a research report on Tuesday. Finally, Piper Sandler upped their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the company a "neutral" rating in a research note on Tuesday.

Hedge Funds Weigh In On First Hawaiian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of First Hawaiian by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank's stock worth $365,777,000 after acquiring an additional 358,632 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in First Hawaiian by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,693,630 shares of the bank's stock valued at $164,927,000 after purchasing an additional 313,362 shares in the last quarter. State Street Corp grew its stake in First Hawaiian by 1.3% during the 2nd quarter. State Street Corp now owns 5,883,194 shares of the bank's stock valued at $146,845,000 after purchasing an additional 77,478 shares in the last quarter. AQR Capital Management LLC increased its holdings in First Hawaiian by 68.6% during the 4th quarter. AQR Capital Management LLC now owns 3,720,826 shares of the bank's stock worth $94,137,000 after purchasing an additional 1,514,465 shares during the last quarter. Finally, Reinhart Partners LLC. increased its holdings in First Hawaiian by 0.7% during the 2nd quarter. Reinhart Partners LLC. now owns 2,660,876 shares of the bank's stock worth $77,964,000 after purchasing an additional 18,977 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Price Performance

NASDAQ:FHB opened at $29.72 on Friday. The business's 50-day moving average is $28.11 and its two-hundred day moving average is $26.72. First Hawaiian has a 12 month low of $22.65 and a 12 month high of $30.58. The firm has a market capitalization of $3.62 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.57 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its earnings results on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.The company had revenue of $220.35 million during the quarter, compared to the consensus estimate of $223.59 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. Equities analysts anticipate that First Hawaiian will post 2.38 EPS for the current year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a $0.26 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.04 dividend on an annualized basis and a yield of 3.5%. First Hawaiian's payout ratio is currently 45.61%.

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.

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