First Hawaiian, Inc. (NASDAQ:FHB) Given Average Rating of “Strong Sell” by Brokerages

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have been given an average recommendation of “Strong Sell” by the seven ratings firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $27.0714.

FHB has been the subject of several research reports. Barclays reissued an “underweight” rating on shares of First Hawaiian in a report on Tuesday, July 8th. JPMorgan Chase & Co. boosted their price objective on First Hawaiian from $25.00 to $25.50 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Wells Fargo & Company increased their price objective on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Thursday, July 10th. Wall Street Zen upgraded shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Piper Sandler began coverage on shares of First Hawaiian in a research report on Thursday, August 21st. They issued a “neutral” rating and a $26.00 price target for the company.

First Hawaiian Trading Up 0.2%

Shares of First Hawaiian stock opened at $25.95 on Tuesday. The company has a fifty day simple moving average of $25.14 and a 200-day simple moving average of $24.43. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 6.29 and a beta of 0.89. First Hawaiian has a 12-month low of $20.32 and a 12-month high of $28.80.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. The firm had revenue of $217.54 million during the quarter, compared to analysts’ expectations of $214.67 million. During the same period in the previous year, the company earned $0.48 earnings per share. On average, analysts forecast that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.26 dividend. 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 18th. First Hawaiian’s dividend payout ratio is presently 53.61%.

Institutional Trading of First Hawaiian

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund lifted its position in First Hawaiian by 4.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 70,300 shares of the bank’s stock worth $1,718,000 after acquiring an additional 2,678 shares during the period. Principal Financial Group Inc. raised its stake in shares of First Hawaiian by 1.3% during the first quarter. Principal Financial Group Inc. now owns 627,695 shares of the bank’s stock worth $15,341,000 after purchasing an additional 7,981 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of First Hawaiian by 36.4% during the first quarter. GAMMA Investing LLC now owns 4,943 shares of the bank’s stock worth $121,000 after purchasing an additional 1,319 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in First Hawaiian by 25.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,864 shares of the bank’s stock valued at $314,000 after buying an additional 2,617 shares during the last quarter. Finally, M&T Bank Corp increased its stake in First Hawaiian by 11.2% in the 1st quarter. M&T Bank Corp now owns 18,524 shares of the bank’s stock valued at $453,000 after buying an additional 1,863 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and 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 offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.