First Hawaiian, Inc. (NASDAQ:FHB) Stock Now Rated “Hold” by Sell-Side Brokerages

First Hawaiian, Inc. (NASDAQ:FHB) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $29.38.

FHB has been the subject of several analyst reports. Wells Fargo & Company cut their target price on First Hawaiian from $28.00 to $26.00 and set an “underweight” rating for the company in a research note on Wednesday, September 30th. Stephens upgraded First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a research report on Thursday, August 6th. Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a report on Sunday, September 27th. The Goldman Sachs Group raised their price objective on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, July 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th.

Institutional Investors Weigh In On First Hawaiian

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Elevation Wealth Partners LLC increased 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 buying an additional 738 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of First Hawaiian during the 4th quarter worth $26,000. Anchor Investment Management LLC purchased a new position in First Hawaiian in the second quarter worth $30,000. Global Retirement Partners LLC purchased a new position in First Hawaiian in the second quarter worth $51,000. Finally, Nykredit A S bought a new position in First Hawaiian in the second quarter valued at $65,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

First Hawaiian stock opened at $25.26 on Wednesday. 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 $3.07 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 1.57 and a beta of 0.76. The firm has a 50 day simple moving average of $26.34 and a 200 day simple moving average of $26.93.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.The firm had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. During the same quarter in the prior year, the business posted $0.58 earnings per share. On average, equities research analysts forecast that First Hawaiian will post 2.37 EPS for the current year.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 17th were given 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 Monday, August 17th. First Hawaiian’s payout ratio is 45.22%.

About First Hawaiian

First Hawaiian, Inc is a bank holding company headquartered in Honolulu, Hawaii, and the parent company of First Hawaiian Bank. Founded in 1858, First Hawaiian Bank is one of the oldest financial institutions in Hawaii and provides banking services to consumers, businesses, and government and institutional customers.

First Hawaiian Bank offers a range of financial products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, credit cards, treasury management, online and mobile banking, and wealth management services.