First Hawaiian (NASDAQ:FHB) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of First Hawaiian (NASDAQ:FHB) from a hold rating to a sell rating in a research note released on Saturday.

Several other equities research analysts have also recently weighed in on FHB. TD Cowen upped their price target on First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Tuesday, April 28th. Piper Sandler boosted their target price on shares of First Hawaiian from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Wells Fargo & Company upped their target price on shares of First Hawaiian from $24.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, March 30th. Weiss Ratings upgraded shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Finally, Stephens set a $28.00 price objective on shares of First Hawaiian in a research note on Monday, April 27th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, First Hawaiian has a consensus rating of “Reduce” and a consensus price target of $27.56.

First Hawaiian Price Performance

Shares of FHB opened at $27.34 on Friday. The company has a 50-day simple moving average of $25.49 and a two-hundred day simple moving average of $25.64. The firm has a market capitalization of $3.33 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 2.01 and a beta of 0.75. First Hawaiian has a one year low of $22.65 and a one year high of $28.35.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $220.35 million for the quarter, compared to the consensus estimate of $223.59 million. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.During the same quarter in the prior year, the business earned $0.47 EPS. Analysts expect that First Hawaiian will post 2.33 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, May 18th. This represents a $1.04 annualized dividend and a dividend yield of 3.8%. First Hawaiian’s dividend payout ratio (DPR) is presently 45.61%.

Hedge Funds Weigh In On First Hawaiian

Hedge funds have recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. bought a new stake in First Hawaiian during the 4th quarter valued at about $26,000. Farther Finance Advisors LLC raised its holdings in First Hawaiian by 74.9% in the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock worth $25,000 after buying an additional 438 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of First Hawaiian by 2,916.7% in the third 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. Global Retirement Partners LLC lifted its stake in shares of First Hawaiian by 45.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after buying an additional 534 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of First Hawaiian during the fourth quarter valued at approximately $46,000. Institutional investors own 97.63% of the company’s stock.

About First Hawaiian

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.