First Hawaiian (FHB) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of First Hawaiian (NASDAQ:FHB) from a buy rating to a hold rating in a research report report published on Friday.
According to Zacks, “First Hawaiian, Inc. offers banking services to consumer and commercial customers which includes deposit products, lending services and wealth management, insurance, private banking and trust services. First Hawaiian Inc. is based in San Francisco, California. “
Several other analysts have also recently issued reports on the company. BidaskClub raised First Hawaiian from a sell rating to a hold rating in a research note on Thursday, February 8th. Barclays cut their price objective on First Hawaiian from $36.00 to $33.00 and set an overweight rating on the stock in a research report on Friday, January 26th. JPMorgan Chase & Co. cut First Hawaiian from an overweight rating to a neutral rating and set a $32.00 price objective on the stock. in a research report on Friday, January 26th. Citigroup reaffirmed a neutral rating and set a $32.00 price objective on shares of First Hawaiian in a research report on Wednesday, January 24th. Finally, ValuEngine cut First Hawaiian from a buy rating to a hold rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. First Hawaiian has a consensus rating of Hold and a consensus price target of $32.75.
First Hawaiian (NASDAQ:FHB) last posted its earnings results on Thursday, January 25th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The company had revenue of $134.90 million for the quarter, compared to analysts’ expectations of $135.40 million. First Hawaiian had a return on equity of 9.10% and a net margin of 23.80%. First Hawaiian’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. equities analysts anticipate that First Hawaiian will post 1.97 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Monday, February 26th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.41%. This is a boost from First Hawaiian’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, February 23rd. First Hawaiian’s payout ratio is presently 72.73%.
Hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in shares of First Hawaiian during the fourth quarter valued at approximately $137,000. Jane Street Group LLC purchased a new position in shares of First Hawaiian during the third quarter valued at approximately $208,000. Aperio Group LLC purchased a new position in shares of First Hawaiian during the third quarter valued at approximately $210,000. Cadence Capital Management LLC purchased a new position in shares of First Hawaiian during the third quarter valued at approximately $245,000. Finally, Koch Industries Inc. purchased a new position in shares of First Hawaiian during the fourth quarter valued at approximately $251,000. Hedge funds and other institutional investors own 35.75% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “First Hawaiian (FHB) Rating Lowered to Hold at Zacks Investment Research” was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.dailypolitical.com/2018/03/05/first-hawaiian-fhb-rating-lowered-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Hawaiian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Hawaiian and related companies with MarketBeat.com's FREE daily email newsletter.