First Hawaiian’s (NYSE:FHB) “Neutral” Rating Reaffirmed at UBS AG
UBS AG reaffirmed their neutral rating on shares of First Hawaiian Inc (NYSE:FHB) in a research note published on Monday, July 31st, www.benzinga.com reports. UBS AG currently has a $29.00 target price on the bank’s stock, down from their prior target price of $30.00.
Other analysts have also issued reports about the company. Zacks Investment Research lowered First Hawaiian from a buy rating to a hold rating in a report on Monday, July 17th. Bank of America Corporation reiterated a neutral rating and set a $34.00 price target (down from $37.00) on shares of First Hawaiian in a report on Thursday, June 22nd. Keefe, Bruyette & Woods reiterated a hold rating and set a $33.00 price target on shares of First Hawaiian in a report on Friday, May 12th. Citigroup Inc. dropped their price target on First Hawaiian from $36.00 to $32.00 and set a neutral rating on the stock in a report on Tuesday, April 11th. Finally, Barclays PLC set a $35.00 price target on First Hawaiian and gave the stock a buy rating in a report on Sunday, April 9th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $31.05.
Shares of First Hawaiian (FHB) traded down 0.87% during mid-day trading on Monday, reaching $27.29. The company had a trading volume of 356,313 shares. The company has a market cap of $3.81 billion and a price-to-earnings ratio of 17.06. The firm’s 50-day moving average price is $29.57 and its 200 day moving average price is $29.94. First Hawaiian has a 52-week low of $25.02 and a 52-week high of $35.47.
First Hawaiian (NYSE:FHB) last posted its earnings results on Thursday, July 27th. The bank reported $0.41 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.41. First Hawaiian had a return on equity of 9.02% and a net margin of 31.59%. The company had revenue of $131.30 million for the quarter, compared to analyst estimates of $134.58 million. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts expect that First Hawaiian will post $1.66 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Monday, August 28th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Thursday, August 24th.
Several institutional investors have recently made changes to their positions in FHB. Janus Henderson Group PLC bought a new position in shares of First Hawaiian during the second quarter valued at $127,437,000. Vanguard Group Inc. boosted its position in shares of First Hawaiian by 6.1% in the second quarter. Vanguard Group Inc. now owns 4,146,953 shares of the bank’s stock valued at $126,981,000 after buying an additional 238,056 shares during the period. JPMorgan Chase & Co. boosted its position in shares of First Hawaiian by 19.6% in the second quarter. JPMorgan Chase & Co. now owns 3,647,583 shares of the bank’s stock valued at $111,689,000 after buying an additional 597,492 shares during the period. Wellington Management Group LLP boosted its position in shares of First Hawaiian by 459.1% in the first quarter. Wellington Management Group LLP now owns 3,546,109 shares of the bank’s stock valued at $106,100,000 after buying an additional 2,911,800 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in shares of First Hawaiian by 212.8% in the first quarter. Neuberger Berman Group LLC now owns 2,931,859 shares of the bank’s stock valued at $87,721,000 after buying an additional 1,994,659 shares during the period.
About First Hawaiian
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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