Zacks: Brokerages Expect First Hawaiian Inc (FHB) Will Announce Quarterly Sales of $186.36 Million
Wall Street brokerages expect First Hawaiian Inc (NYSE:FHB) to announce sales of $186.36 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for First Hawaiian’s earnings. The lowest sales estimate is $183.99 million and the highest is $188.73 million. First Hawaiian reported sales of $171.37 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.7%. The business is scheduled to announce its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that First Hawaiian will report full-year sales of $186.36 million for the current year, with estimates ranging from $731.26 million to $740.45 million. For the next year, analysts forecast that the business will report sales of $789.92 million per share, with estimates ranging from $772.51 million to $807.32 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover First Hawaiian.
First Hawaiian (NYSE:FHB) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. First Hawaiian had a return on equity of 9.02% and a net margin of 31.59%. The firm had revenue of $131.30 million during the quarter, compared to analysts’ expectations of $134.58 million. First Hawaiian’s revenue was up 1.5% compared to the same quarter last year.
Several equities research analysts have recently issued reports on the company. UBS AG reaffirmed a “neutral” rating and issued a $29.00 target price (down from $30.00) on shares of First Hawaiian in a report on Monday, July 31st. Zacks Investment Research cut First Hawaiian from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Bank of America Corporation reaffirmed a “neutral” rating and issued a $34.00 target price (down from $37.00) on shares of First Hawaiian in a report on Thursday, June 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $33.00 target price on shares of First Hawaiian in a report on Friday, May 12th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $31.05.
Large investors have recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of First Hawaiian by 11.8% in the second quarter. Pacer Advisors Inc. now owns 3,546 shares of the bank’s stock valued at $109,000 after buying an additional 374 shares during the last quarter. US Bancorp DE bought a new stake in shares of First Hawaiian during the second quarter valued at $118,000. UBS Group AG boosted its stake in shares of First Hawaiian by 308.6% in the first quarter. UBS Group AG now owns 4,086 shares of the bank’s stock valued at $122,000 after buying an additional 3,086 shares during the last quarter. Segantii Capital Management Ltd bought a new stake in shares of First Hawaiian during the first quarter valued at $129,000. Finally, Great West Life Assurance Co. Can boosted its stake in shares of 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 valued at $176,000 after buying an additional 2,800 shares during the last quarter.
First Hawaiian (FHB) opened at 27.29 on Friday. The stock has a 50 day moving average price of $29.57 and a 200-day moving average price of $29.94. The stock has a market capitalization of $3.81 billion and a PE ratio of 17.06. First Hawaiian has a 12-month low of $25.02 and a 12-month high of $35.47.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Monday, August 28th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $0.88 annualized dividend and a dividend yield of 3.22%.
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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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