First Hawaiian Inc (NYSE:FHB) Expected to Post Quarterly Sales of $186.48 Million
Equities analysts expect First Hawaiian Inc (NYSE:FHB) to announce sales of $186.48 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for First Hawaiian’s earnings, with the lowest sales estimate coming in at $184.22 million and the highest estimate coming in at $188.73 million. First Hawaiian reported sales of $171.37 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.8%. The business is scheduled to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that First Hawaiian will report full-year sales of $186.48 million for the current year, with estimates ranging from $736.21 million to $740.45 million. For the next year, analysts expect that the business will report sales of $791.75 million per share, with estimates ranging from $776.19 million to $807.32 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow First Hawaiian.
First Hawaiian (NYSE:FHB) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. First Hawaiian had a return on equity of 9.14% and a net margin of 31.74%. The firm had revenue of $131.30 million for the quarter, compared to the consensus estimate of $134.58 million. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut First Hawaiian from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Citigroup Inc. reduced their price target on First Hawaiian from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, April 11th. Bank of America Corporation reaffirmed a “neutral” rating and issued a $34.00 price target (down previously from $37.00) on shares of First Hawaiian in a report on Thursday, June 22nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $33.00 price target on shares of First Hawaiian in a report on Friday, May 12th. Finally, Barclays PLC set a $35.00 price target on First Hawaiian and gave the stock a “buy” rating in a report on Sunday, April 9th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $30.86.
Large investors have recently bought and sold shares of the stock. Teachers Advisors LLC raised its stake in First Hawaiian by 90.1% in the fourth quarter. Teachers Advisors LLC now owns 22,634 shares of the bank’s stock worth $788,000 after buying an additional 10,727 shares during the period. First Quadrant L P CA raised its stake in First Hawaiian by 9.6% in the first quarter. First Quadrant L P CA now owns 55,617 shares of the bank’s stock worth $1,664,000 after buying an additional 4,864 shares during the period. Russell Investments Group Ltd. bought a new stake in First Hawaiian during the first quarter worth about $409,000. DUPONT CAPITAL MANAGEMENT Corp raised its stake in First Hawaiian by 123.1% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 78,800 shares of the bank’s stock worth $2,358,000 after buying an additional 43,475 shares during the period. Finally, Wells Fargo & Company MN raised its stake 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 (FHB) traded up 0.44% during mid-day trading on Wednesday, hitting $29.40. The company had a trading volume of 172,268 shares. First Hawaiian has a 12 month low of $23.00 and a 12 month high of $35.47. The firm has a market capitalization of $4.10 billion and a P/E ratio of 18.38. The company has a 50-day moving average price of $29.95 and a 200 day moving average price of $30.29.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Monday, August 28th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, August 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.99%.
About First Hawaiian
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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