First Hawaiian, Inc. (NASDAQ:FHB) Receives Average Recommendation of “Reduce” from Analysts

First Hawaiian, Inc. (NASDAQ:FHB) has been given a consensus recommendation of “Reduce” by the eleven research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $30.25.

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Barclays raised their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Zacks Research cut First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Stephens upgraded First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a research report on Thursday, August 6th.

Institutional Investors Weigh In On First Hawaiian

A number of large investors have recently modified their holdings of FHB. Eurizon Capital SGR S.p.A. purchased a new position in shares of First Hawaiian in the fourth quarter worth about $26,000. Elevation Wealth Partners LLC grew its stake in First Hawaiian by 378.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock valued at $27,000 after acquiring an additional 738 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in 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 in the last quarter. Global Retirement Partners LLC raised its holdings in First Hawaiian by 45.7% in 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, Danske Bank A S acquired a new stake in First Hawaiian in the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $26.07 on Friday. First Hawaiian has a 1 year low of $22.65 and a 1 year high of $30.58. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 1.64 and a beta of 0.72. The business’s 50 day moving average price is $27.94 and its 200-day moving average price is $26.88.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $231.27 million for the quarter, compared to analysts’ expectations of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same quarter last year, the company earned $0.58 EPS. On average, sell-side analysts expect that First Hawaiian will post 2.34 earnings per share for the current year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were issued a $0.26 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. First Hawaiian’s dividend payout ratio (DPR) is presently 45.22%.

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.