First Hawaiian, Inc. (NASDAQ:FHB) Given Consensus Rating of “Reduce” by Brokerages

Shares of First Hawaiian, Inc. (NASDAQ:FHB) have been given a consensus rating of “Reduce” by the ten research firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $27.7143.

Several research firms have weighed in on FHB. TD Cowen began coverage on First Hawaiian in a research note on Thursday, September 25th. They issued a “hold” rating and a $27.00 price target for the company. Cowen reissued a “hold” rating on shares of First Hawaiian in a report on Tuesday, October 28th. Weiss Ratings lowered shares of First Hawaiian from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 22nd. Zacks Research downgraded shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 16th.

First Hawaiian Stock Down 0.7%

NASDAQ:FHB opened at $26.06 on Monday. The business’s 50-day simple moving average is $25.03 and its two-hundred day simple moving average is $24.97. First Hawaiian has a 52 week low of $20.32 and a 52 week high of $28.28. The stock has a market cap of $3.22 billion, a PE ratio of 12.71, a P/E/G ratio of 1.66 and a beta of 0.74.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Monday, August 9th. The bank reported $0.44 earnings per share for the quarter. The firm had revenue of $129.16 million during the quarter. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%. Sell-side analysts anticipate that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 17th were given 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 was Monday, November 17th. First Hawaiian’s payout ratio is currently 50.73%.

Insider Buying and Selling

In other First Hawaiian news, insider Alan Arizumi sold 36,460 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $25.35, for a total transaction of $924,261.00. Following the completion of the transaction, the insider owned 37,508 shares in the company, valued at $950,827.80. This trade represents a 49.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

Institutional Trading of First Hawaiian

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in First Hawaiian by 74.9% during the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock valued at $25,000 after purchasing an additional 438 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 worth $27,000 after buying an additional 1,050 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of First Hawaiian by 11,325.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock worth $34,000 after buying an additional 1,359 shares during the last quarter. Danske Bank A S purchased a new stake in shares of First Hawaiian during the 3rd quarter valued at about $47,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of First Hawaiian during the 3rd quarter valued at about $48,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Company Profile

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.