First Hawaiian (NASDAQ:FHB) Issues Earnings Results

First Hawaiian (NASDAQ:FHBGet Free Report) released its earnings results on Friday. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02, FiscalAI reports. The firm had revenue of $220.35 million for the quarter, compared to analyst estimates of $223.59 million. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.During the same quarter last year, the firm posted $0.47 EPS.

First Hawaiian Trading Down 1.2%

FHB stock traded down $0.32 during trading on Friday, hitting $26.65. The company had a trading volume of 1,167,285 shares, compared to its average volume of 1,550,423. The company has a fifty day moving average price of $25.30 and a two-hundred day moving average price of $25.44. The company has a market cap of $3.27 billion, a P/E ratio of 12.10, a P/E/G ratio of 2.80 and a beta of 0.71. First Hawaiian has a fifty-two week low of $22.51 and a fifty-two week high of $28.35.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.04 annualized dividend and a yield of 3.9%. First Hawaiian’s payout ratio is currently 47.27%.

Key Stories Impacting First Hawaiian

Here are the key news stories impacting First Hawaiian this week:

Insider Buying and Selling

In related news, Director Craig Scott Wo sold 1,500 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $27.21, for a total value of $40,815.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by corporate insiders.

Institutional Trading of First Hawaiian

Institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in First Hawaiian by 2,916.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after buying an additional 1,050 shares in the last quarter. Global Retirement Partners LLC boosted its stake in First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after buying an additional 534 shares in the last quarter. Danske Bank A S acquired a new stake in First Hawaiian in the 3rd quarter valued at $47,000. CIBC Private Wealth Group LLC acquired a new stake in First Hawaiian in the 3rd quarter valued at $48,000. Finally, Allworth Financial LP raised its position in First Hawaiian by 155.8% in the 3rd quarter. Allworth Financial LP now owns 2,072 shares of the bank’s stock valued at $51,000 after purchasing an additional 1,262 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FHB. Wells Fargo & Company raised their target price on First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, March 30th. The Goldman Sachs Group set a $27.50 target price on First Hawaiian and gave the company a “sell” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. lowered their target price on First Hawaiian from $29.00 to $25.00 and set an “underweight” rating on the stock in a report on Wednesday, April 1st. TD Cowen reaffirmed a “hold” rating on shares of First Hawaiian in a report on Monday, February 2nd. Finally, Weiss Ratings raised First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, First Hawaiian presently has a consensus rating of “Reduce” and an average price target of $26.93.

Read Our Latest Stock Report on First Hawaiian

First Hawaiian Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for First Hawaiian (NASDAQ:FHB)

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