First Hawaiian (NASDAQ:FHB) Lowered to Buy at BidaskClub

BidaskClub cut shares of First Hawaiian (NASDAQ:FHB) from a strong-buy rating to a buy rating in a research note released on Wednesday morning, BidAskClub reports.

Other equities research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of First Hawaiian from a sell rating to a hold rating in a report on Tuesday. JPMorgan Chase & Co. cut shares of First Hawaiian from a neutral rating to an underweight rating and reduced their price target for the stock from $26.50 to $26.00 in a report on Monday, July 29th. Wells Fargo & Co set a $25.00 price target on shares of First Hawaiian and gave the stock a hold rating in a report on Friday, October 25th. Zacks Investment Research cut shares of First Hawaiian from a hold rating to a sell rating in a report on Monday, November 11th. Finally, TheStreet upgraded shares of First Hawaiian from a c rating to a b- rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $27.00.

NASDAQ:FHB traded down $0.05 during trading hours on Wednesday, reaching $28.41. The company had a trading volume of 529,800 shares, compared to its average volume of 921,923. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 4.97 and a beta of 1.15. The business’s 50-day simple moving average is $27.61 and its two-hundred day simple moving average is $26.43. First Hawaiian has a twelve month low of $21.19 and a twelve month high of $29.01.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $143.10 million during the quarter, compared to analysts’ expectations of $145.43 million. First Hawaiian had a net margin of 32.03% and a return on equity of 11.41%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. As a group, equities analysts predict that First Hawaiian will post 2.14 earnings per share for the current year.

The firm also recently disclosed a dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, November 22nd. First Hawaiian’s dividend payout ratio is currently 49.76%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Nova Scotia grew its holdings in shares of First Hawaiian by 0.7% during the second quarter. Bank of Nova Scotia now owns 72,604 shares of the bank’s stock valued at $1,878,000 after buying an additional 504 shares during the last quarter. Metropolitan Life Insurance Co NY grew its holdings in shares of First Hawaiian by 21.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 3,192 shares of the bank’s stock valued at $83,000 after buying an additional 564 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of First Hawaiian by 11.4% during the second quarter. Advisor Group Inc. now owns 5,594 shares of the bank’s stock valued at $144,000 after buying an additional 571 shares during the last quarter. First Quadrant L P CA lifted its position in shares of First Hawaiian by 4.3% during the third quarter. First Quadrant L P CA now owns 14,879 shares of the bank’s stock valued at $397,000 after purchasing an additional 617 shares in the last quarter. Finally, Reinhart Partners Inc. lifted its position in shares of First Hawaiian by 0.3% during the third quarter. Reinhart Partners Inc. now owns 219,744 shares of the bank’s stock valued at $5,867,000 after purchasing an additional 706 shares in the last quarter.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, including checking and savings accounts, and time deposit accounts.

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