First Hawaiian Inc (FHB) Upgraded to “Sell” at BidaskClub
BidaskClub upgraded shares of First Hawaiian Inc (NYSE:FHB) from a strong sell rating to a sell rating in a report published on Wednesday morning.
FHB has been the subject of a number of other reports. Zacks Investment Research downgraded First Hawaiian from a hold rating to a sell rating in a research report on Wednesday, June 28th. Bank of America Corporation reissued a neutral rating and set a $34.00 price objective (down from $37.00) on shares of First Hawaiian in a research report on Thursday, June 22nd. Finally, UBS AG reissued a neutral rating and set a $29.00 price objective (down from $30.00) on shares of First Hawaiian in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $32.83.
Shares of First Hawaiian (NYSE:FHB) opened at 28.18 on Wednesday. First Hawaiian has a 52-week low of $25.80 and a 52-week high of $35.47. The stock has a market capitalization of $3.93 billion and a price-to-earnings ratio of 17.61. The firm’s 50 day moving average is $28.04 and its 200 day moving average is $29.72.
First Hawaiian (NYSE:FHB) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $0.41 EPS for the quarter, hitting 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 business had revenue of $131.30 million during the quarter, compared to the consensus estimate of $134.58 million. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Equities analysts expect that First Hawaiian will post $1.66 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Thursday, August 24th.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its holdings in First Hawaiian by 3.4% in the second quarter. Legal & General Group Plc now owns 11,233 shares of the bank’s stock valued at $344,000 after purchasing an additional 370 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in First Hawaiian by 11.8% in the second quarter. Pacer Advisors Inc. now owns 3,546 shares of the bank’s stock valued at $109,000 after purchasing an additional 374 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in First Hawaiian by 6.4% in the second quarter. Principal Financial Group Inc. now owns 9,130 shares of the bank’s stock valued at $280,000 after purchasing an additional 546 shares in the last quarter. Cadinha & Co. LLC boosted its holdings in First Hawaiian by 5.6% in the second quarter. Cadinha & Co. LLC now owns 11,310 shares of the bank’s stock valued at $346,000 after purchasing an additional 600 shares in the last quarter. Finally, Pictet North America Advisors SA boosted its holdings in First Hawaiian by 1.1% in the first quarter. Pictet North America Advisors SA now owns 94,700 shares of the bank’s stock valued at $2,833,000 after purchasing an additional 1,000 shares in the last quarter.
First Hawaiian Company Profile
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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