First Hawaiian Inc (FHB) Expected to Announce Quarterly Sales of $182.06 Million
Equities research analysts expect First Hawaiian Inc (NYSE:FHB) to report $182.06 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for First Hawaiian’s earnings. The highest sales estimate is $183.28 million and the lowest is $180.83 million. First Hawaiian posted sales of $166.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The company is expected to report its next quarterly earnings results on Friday, September 8th.
On average, analysts expect that First Hawaiian will report full-year sales of $182.06 million for the current year, with estimates ranging from $736.19 million to $741.64 million. For the next financial year, analysts anticipate that the company will post sales of $789.92 million per share, with estimates ranging from $784.45 million to $795.39 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover First Hawaiian.
First Hawaiian (NYSE:FHB) last issued its quarterly earnings results on Thursday, April 27th. The bank reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $129.30 million for the quarter, compared to analysts’ expectations of $138.54 million. During the same period in the prior year, the company earned $0.47 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis.
A number of research firms have recently issued reports on FHB. Zacks Investment Research downgraded First Hawaiian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. Barclays PLC set a $35.00 price target on First Hawaiian and gave the stock a “buy” rating in a research note on Sunday, April 9th. Citigroup Inc. dropped their price target on First Hawaiian from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 11th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $33.00 price target on shares of First Hawaiian in a research note on Friday, May 12th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. First Hawaiian presently has an average rating of “Hold” and an average target price of $30.15.
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The company also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Tuesday, May 30th were paid a $0.22 dividend. This is an increase from First Hawaiian’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, May 25th.
Institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP increased its position in First Hawaiian by 14.7% in the first quarter. First Trust Advisors LP now owns 94,788 shares of the bank’s stock worth $2,836,000 after buying an additional 12,137 shares during the period. CT Mason increased its position in First Hawaiian by 93.6% in the first quarter. CT Mason now owns 21,280 shares of the bank’s stock worth $637,000 after buying an additional 10,290 shares during the period. Stoneridge Investment Partners LLC purchased a new position in First Hawaiian during the first quarter worth about $264,000. Great West Life Assurance Co. Can increased its position in First Hawaiian by 90.3% in the first quarter. Great West Life Assurance Co. Can now owns 5,900 shares of the bank’s stock worth $176,000 after buying an additional 2,800 shares during the period. Finally, Wells Fargo & Company MN increased its position in First Hawaiian by 31.3% in the first quarter. Wells Fargo & Company MN now owns 54,570 shares of the bank’s stock worth $1,633,000 after buying an additional 13,007 shares during the period.
First Hawaiian Company Profile
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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