First Hawaiian (NASDAQ:FHB) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of First Hawaiian (NASDAQ:FHB) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 2nd. Zacks Research lowered First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Piper Sandler decreased their price objective on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. TD Cowen reiterated a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. Finally, The Goldman Sachs Group set a $27.50 price target on shares of First Hawaiian and gave the company a “sell” rating in a research note on Tuesday, January 6th. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $27.50.

First Hawaiian Stock Up 0.8%

NASDAQ FHB opened at $26.30 on Friday. First Hawaiian has a 52 week low of $20.32 and a 52 week high of $28.35. The company has a 50 day moving average price of $26.48 and a 200 day moving average price of $25.38. The firm has a market cap of $3.25 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $199.68 million during the quarter, compared to the consensus estimate of $225.33 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same period last year, the firm earned $0.41 earnings per share. On average, equities research analysts anticipate that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. First Hawaiian’s dividend payout ratio (DPR) is currently 47.27%.

Insider Activity at First Hawaiian

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alan Arizumi sold 6,566 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.34, for a total value of $166,382.44. Following the sale, the insider directly owned 1,962 shares in the company, valued at $49,717.08. This represents a 76.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 45,026 shares of company stock valued at $1,144,928. Company insiders own 0.61% of the company’s stock.

Institutional Trading of First Hawaiian

Hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC grew its holdings in First Hawaiian by 53.8% during the fourth quarter. Squarepoint Ops LLC now owns 57,049 shares of the bank’s stock worth $1,443,000 after acquiring an additional 19,958 shares during the period. Mariner LLC boosted its position in First Hawaiian by 135.3% in the 4th quarter. Mariner LLC now owns 68,724 shares of the bank’s stock worth $1,741,000 after purchasing an additional 39,523 shares in the last quarter. Fieldview Capital Management LLC purchased a new stake in First Hawaiian in the 4th quarter worth approximately $1,477,000. Entropy Technologies LP acquired a new stake in shares of First Hawaiian during the 4th quarter worth approximately $255,000. Finally, Barclays PLC increased its holdings in shares of First Hawaiian by 11.3% during the 4th quarter. Barclays PLC now owns 394,842 shares of the bank’s stock valued at $9,990,000 after purchasing an additional 40,162 shares in the last quarter. 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.