First Hawaiian (NASDAQ:FHB) Announces Earnings Results

Key Points

• First Hawaiian reported Q results with EPS of $0.55 beating the $0.53 consensus while revenue of $220.35M slightly missed the $223.59M estimate; net margin was 23.65% and ROE 10.19%.
• The company paid a quarterly dividend of $0.26 (annualized $1.04), representing a 3.9% yield and a payout ratio of about 47%.
• Shares closed at $26.71 (down $0.25) with a P/E of 12.1 and $3.28B market cap, and analyst sentiment is mixed—average rating "Reduce" with an average target near $26.93.

First Hawaiian (NASDAQ:FHB - Get Free Report) released its quarterly earnings results on Friday. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02, FiscalAI reports. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. The firm had revenue of $220.35 million during the quarter, compared to analyst estimates of $223.59 million. During the same quarter in the prior year, the firm earned $0.47 EPS.

First Hawaiian Price Performance

Shares of FHB stock traded down $0.25 on Friday, hitting $26.71. 1,126,701 shares of the stock traded hands, compared to its average volume of 1,550,123. First Hawaiian has a 52 week low of $22.51 and a 52 week high of $28.35. The firm has a 50 day simple moving average of $25.30 and a two-hundred day simple moving average of $25.44. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 2.80 and a beta of 0.71.

First Hawaiian Announces Dividend

The company 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 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, February 13th. First Hawaiian's dividend payout ratio (DPR) is presently 47.27%.

Insiders Place Their Bets

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $27.21, for a total value of $40,815.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company's stock.

Hedge Funds Weigh In On First Hawaiian

A number of hedge funds have recently made changes to their positions in FHB. Royal Bank of Canada raised its stake in First Hawaiian by 8.6% during the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank's stock valued at $4,041,000 after purchasing an additional 13,071 shares during the period. Integrated Wealth Concepts LLC grew its holdings in First Hawaiian by 9.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank's stock valued at $246,000 after buying an additional 856 shares in the last quarter. United Services Automobile Association purchased a new stake in First Hawaiian during the 1st quarter valued at approximately $201,000. Empowered Funds LLC raised its position in shares of First Hawaiian by 10.4% during the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank's stock valued at $401,000 after buying an additional 1,542 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of First Hawaiian by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank's stock worth $10,389,000 after buying an additional 31,686 shares in the last quarter. Institutional investors own 97.63% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. The Goldman Sachs Group set a $27.50 target price on shares of First Hawaiian and gave the company a "sell" rating in a research report on Tuesday, January 6th. Weiss Ratings upgraded shares of First Hawaiian from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 9th. Zacks Research cut shares of First Hawaiian from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 25th. Piper Sandler cut their price objective on shares of First Hawaiian from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Thursday, April 2nd. Finally, JPMorgan Chase & Co. decreased their target price on First Hawaiian from $29.00 to $25.00 and set an "underweight" rating on the stock in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $26.93.

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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