First Hawaiian (NASDAQ:FHB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of First Hawaiian (NASDAQ:FHB) from a sell rating to a hold rating in a research report report published on Saturday.

Several other brokerages also recently issued reports on FHB. The Goldman Sachs Group lifted their target price on First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research note on Tuesday, July 7th. Barclays upped their price target on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Piper Sandler lifted their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company boosted their target price on shares of First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, First Hawaiian currently has a consensus rating of “Hold” and an average target price of $29.38.

First Hawaiian Stock Performance

Shares of First Hawaiian stock opened at $27.79 on Friday. First Hawaiian has a fifty-two week low of $22.65 and a fifty-two week high of $30.58. The company has a market capitalization of $3.38 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.53 and a beta of 0.72. The company has a fifty day moving average of $28.39 and a 200 day moving average of $26.86.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.The business had revenue of $231.27 million for the quarter, compared to analysts’ expectations of $227.77 million. During the same period last year, the firm earned $0.58 earnings per share. Analysts forecast that First Hawaiian will post 2.38 EPS for the current year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, August 17th. First Hawaiian’s payout ratio is 45.22%.

Hedge Funds Weigh In On First Hawaiian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. purchased a new position in First Hawaiian during the 4th quarter valued at approximately $26,000. Elevation Wealth Partners LLC raised its holdings in shares of First Hawaiian by 378.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after acquiring an additional 738 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Hawaiian by 2,916.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,050 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after acquiring an additional 534 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in shares of First Hawaiian in the fourth quarter valued at $46,000. 97.63% of the stock is owned by institutional investors.

About First Hawaiian

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.