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 sent to investors on Saturday morning.

Several other research firms have also weighed in on FHB. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Hawaiian in a research note on Monday, December 29th. 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. Zacks Research lowered shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. TD Cowen reissued a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. Finally, Piper Sandler cut their target price on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, February 2nd. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $27.50.

First Hawaiian Trading Up 1.5%

NASDAQ FHB opened at $25.13 on Friday. The firm’s 50 day simple moving average is $26.41 and its 200 day simple moving average is $25.49. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 1.96 and a beta of 0.71. First Hawaiian has a 1 year low of $20.32 and a 1 year high of $28.35.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $225.85 million during the quarter, compared to analysts’ expectations of $225.33 million. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.During the same period in the prior year, the company earned $0.41 earnings per share. On average, equities research analysts forecast that First Hawaiian will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Friday, February 13th. First Hawaiian’s payout ratio is 47.27%.

Insider Buying and Selling at First Hawaiian

In related news, insider Alan Arizumi sold 6,566 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $25.34, for a total value of $166,382.44. Following the sale, the insider owned 1,962 shares of the company’s stock, valued at $49,717.08. The trade was a 76.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Craig Scott Wo sold 1,500 shares of First Hawaiian stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $27.21, for a total value of $40,815.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 45,026 shares of company stock worth $1,144,928. 0.61% of the stock is currently owned by insiders.

Institutional Trading of First Hawaiian

Several institutional investors have recently added to or reduced their stakes in FHB. American Century Companies Inc. increased its position in First Hawaiian by 131.9% during the 3rd quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank’s stock valued at $71,800,000 after purchasing an additional 1,644,752 shares during the period. Norges Bank acquired a new stake in shares of First Hawaiian during the fourth quarter worth $40,281,000. AQR Capital Management LLC increased its position in shares of First Hawaiian by 230.8% during the third quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank’s stock worth $54,784,000 after buying an additional 1,539,415 shares during the period. UBS Group AG raised its stake in First Hawaiian by 176.0% during the fourth quarter. UBS Group AG now owns 1,128,002 shares of the bank’s stock worth $28,538,000 after buying an additional 719,312 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in First Hawaiian by 96.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,096,002 shares of the bank’s stock valued at $27,729,000 after buying an additional 537,841 shares during the period. 97.63% of the stock is currently owned by institutional investors.

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.