First Hawaiian (NASDAQ:FHB) Downgraded by Wall Street Zen to Sell

by · The Cerbat Gem

Wall Street Zen lowered shares of First Hawaiian (NASDAQ:FHB – Free Report) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

A number of other analysts have also commented on the stock. Barclays lifted their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Stephens upgraded First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a research report on Thursday, August 6th. TD Cowen decreased their price objective on First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Wednesday, July 29th. Piper Sandler upped their price objective on First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, The Goldman Sachs Group upped their price objective on First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $30.25.

View Our Latest Analysis on First Hawaiian

First Hawaiian Stock Down 0.2%

Shares of FHB stock opened at $25.76 on Friday. The stock has a 50-day moving average price of $27.11 and a 200 day moving average price of $26.88. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.62 and a beta of 0.72. First Hawaiian has a 12 month low of $22.65 and a 12 month high of $30.58.

First Hawaiian (NASDAQ:FHB – Get Free Report) last released its 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. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The company had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. During the same period in the prior year, the company posted $0.58 EPS. Sell-side analysts predict that First Hawaiian will post 2.34 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

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

Institutional Trading of First Hawaiian

A number of large investors have recently made changes to their positions in FHB. Illinois Municipal Retirement Fund raised its stake in First Hawaiian by 0.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock worth $1,602,000 after buying an additional 397 shares during the period. Evolve Private Wealth LLC grew its stake in First Hawaiian by 1.6% in the first quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock valued at $643,000 after acquiring an additional 406 shares during the period. IFP Advisors Inc increased its holdings in shares of First Hawaiian by 17.9% in the second quarter. IFP Advisors Inc now owns 3,231 shares of the bank’s stock worth $95,000 after acquiring an additional 491 shares in the last quarter. Parallel Advisors LLC raised its position in shares of First Hawaiian by 11.3% during the first quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock worth $127,000 after purchasing an additional 525 shares during the period. Finally, Allworth Financial LP raised its position in shares of First Hawaiian by 33.4% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the bank’s stock worth $70,000 after purchasing an additional 693 shares during the period. Institutional investors own 97.63% of the company’s stock.

About First Hawaiian

(Get Free Report)

First Hawaiian, Inc (NASDAQ: FHB) is the holding company for First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858 as Bishop & Company, First Hawaiian Bank is the oldest bank in Hawaii and provides banking and financial services to consumers, businesses and government organizations.

The bank offers deposit accounts, residential and commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.

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