First Hawaiian (NASDAQ:FHB) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of First Hawaiian (NASDAQ:FHB) from a strong-buy rating to a hold rating in a report released on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group upped their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a report on Tuesday, July 7th. Benchmark reissued a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th. Barclays boosted their target price on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. upped their target price on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company raised their price target on First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $30.25.

First Hawaiian Trading Down 0.7%

First Hawaiian stock opened at $27.66 on Thursday. 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 $3.37 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.76 and a beta of 0.73. The firm’s 50 day simple moving average is $28.59 and its 200 day simple moving average is $26.95.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same period last year, the firm earned $0.58 EPS. Research analysts forecast that First Hawaiian will post 2.34 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 17th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 17th. First Hawaiian’s dividend payout ratio (DPR) is currently 45.22%.

Institutional Trading of First Hawaiian

Several hedge funds and other institutional investors have recently bought and sold shares of FHB. Eurizon Capital SGR S.p.A. bought a new position in First Hawaiian during the fourth quarter valued at approximately $26,000. Elevation Wealth Partners LLC lifted its holdings in shares of First Hawaiian by 378.5% in 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 during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First Hawaiian by 2,916.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after acquiring an additional 1,050 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after acquiring an additional 534 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in shares of First Hawaiian in the 3rd quarter valued at $47,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Company Profile

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.