First Hawaiian (NASDAQ:FHB) Issues Earnings Results, Beats Estimates By $0.09 EPS

Key Points

• First Hawaiian (NASDAQ:FHB) reported an earnings per share (EPS) of $0.58 for the quarter, surpassing the analysts' estimates of $0.49 by $0.09.
• The bank announced a quarterly dividend of $0.26 per share, leading to an annualized yield of 4.09%.
• Institutional investors hold 97.63% of First Hawaiian's stock, with several firms increasing their stakes during the first quarter.

First Hawaiian (NASDAQ:FHB - Get Free Report) announced its quarterly earnings results on Friday. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09, Briefing.com reports. The firm had revenue of $217.54 million during the quarter, compared to the consensus estimate of $214.67 million. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. During the same period last year, the firm posted $0.48 EPS.

First Hawaiian Trading Down 0.4%

First Hawaiian stock traded down $0.11 during midday trading on Wednesday, hitting $24.70. The stock had a trading volume of 317,728 shares, compared to its average volume of 879,539. First Hawaiian has a 52-week low of $20.32 and a 52-week high of $28.80. The firm's fifty day moving average is $24.64 and its two-hundred day moving average is $24.79. The company has a market capitalization of $3.11 billion, a PE ratio of 12.73, a P/E/G ratio of 6.25 and a beta of 0.83.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, August 18th. First Hawaiian's dividend payout ratio (DPR) is presently 53.61%.

Institutional Trading of First Hawaiian

Several institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of First Hawaiian by 8.1% during 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 purchasing an additional 31,686 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of First Hawaiian by 1,034.4% during the 1st quarter. Jane Street Group LLC now owns 167,385 shares of the bank's stock worth $4,091,000 after purchasing an additional 152,630 shares during the period. Royal Bank of Canada grew its holdings in shares of First Hawaiian by 8.6% during the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank's stock worth $4,041,000 after purchasing an additional 13,071 shares during the period. Empowered Funds LLC lifted its stake in First Hawaiian by 10.4% during the 1st quarter. Empowered Funds LLC now owns 16,407 shares of the bank's stock worth $401,000 after acquiring an additional 1,542 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in First Hawaiian by 9.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank's stock worth $246,000 after acquiring an additional 856 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FHB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Barclays reiterated an "underweight" rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods dropped their target price on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday. Four equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, First Hawaiian presently has a consensus rating of "Hold" and a consensus target price of $27.64.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.