First Hawaiian (NASDAQ:FHB) Posts 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) posted its earnings results on Friday. The bank reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.09, Briefing.com reports. First Hawaiian had a net margin of 20.36% and a return on equity of 8.99%. The business had revenue of $217.54 million for the quarter, compared to analysts' expectations of $214.67 million. During the same period in the previous year, the company posted $0.48 earnings per share.

First Hawaiian Stock Up 0.9%

FHB stock traded up $0.22 during trading on Friday, hitting $25.42. 1,353,390 shares of the company's stock traded hands, compared to its average volume of 1,086,450. First Hawaiian has a 52 week low of $20.32 and a 52 week high of $28.80. The stock has a fifty day moving average price of $24.61 and a two-hundred day moving average price of $24.79. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 6.40 and a beta of 0.83.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.09%. First Hawaiian's payout ratio is 56.52%.

Institutional Trading of First Hawaiian

Several institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC increased its stake in First Hawaiian by 9.3% during the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank's stock valued at $246,000 after purchasing an additional 856 shares during the last quarter. Empowered Funds LLC increased its stake in 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 purchasing an additional 1,542 shares during the last quarter. United Services Automobile Association bought a new stake in First Hawaiian during the first quarter valued at $201,000. Royal Bank of Canada increased its stake in First Hawaiian by 8.6% during the first 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 last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 valued at $10,389,000 after purchasing an additional 31,686 shares during the last quarter. Institutional investors own 97.63% of the company's stock.

Analyst Ratings Changes

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

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