First Hawaiian (NASDAQ:FHB) Posts Quarterly Earnings Results, Meets Expectations

First Hawaiian (NASDAQ:FHB) posted its quarterly earnings data on Friday. The bank reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42, reports. First Hawaiian had a net margin of 20.90% and a return on equity of 9.87%. The company had revenue of $205.80 million for the quarter, compared to analyst estimates of $202.41 million.

First Hawaiian Price Performance

Shares of FHB stock opened at $21.89 on Friday. The company has a market capitalization of $2.79 billion, a P/E ratio of 12.58 and a beta of 1.01. The company’s 50-day simple moving average is $21.30 and its two-hundred day simple moving average is $20.79. First Hawaiian has a one year low of $15.08 and a one year high of $23.22.

First Hawaiian Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be paid a $0.26 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.75%. First Hawaiian’s dividend payout ratio is currently 59.77%.

Hedge Funds Weigh In On First Hawaiian

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of First Hawaiian by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank’s stock valued at $334,927,000 after purchasing an additional 87,304 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of First Hawaiian by 17.8% during the third quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock valued at $186,842,000 after purchasing an additional 1,561,662 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Hawaiian by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock valued at $103,082,000 after purchasing an additional 668,871 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of First Hawaiian by 124.3% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock valued at $58,079,000 after purchasing an additional 1,408,160 shares in the last quarter. Finally, Reinhart Partners LLC. boosted its stake in shares of First Hawaiian by 2.1% during the first quarter. Reinhart Partners LLC. now owns 2,299,222 shares of the bank’s stock valued at $50,491,000 after purchasing an additional 48,213 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FHB shares. Barclays started coverage on shares of First Hawaiian in a research report on Friday, March 8th. They issued an “equal weight” rating and a $25.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of First Hawaiian from $18.00 to $20.00 and gave the stock an “underweight” rating in a research report on Monday, January 29th. Finally, StockNews.com raised shares of First Hawaiian to a “sell” rating in a research report on Friday, January 19th. Three analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $21.60.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.