First Hawaiian (NASDAQ:FHB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of First Hawaiian (NASDAQ:FHB) from a sell rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

A number of other brokerages have also issued reports on FHB. Wells Fargo & Company lifted their target price on shares of First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Zacks Research downgraded shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. lifted their price objective on First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Piper Sandler boosted their target price on First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $30.25.

First Hawaiian Price Performance

Shares of FHB opened at $24.82 on Friday. The business’s 50-day moving average is $26.56 and its 200-day moving average is $26.91. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.56 and a beta of 0.72. First Hawaiian has a fifty-two week low of $22.65 and a fifty-two week high of $30.58.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $231.27 million during the quarter, compared to analysts’ expectations of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same period last year, the company posted $0.58 earnings per share. Equities research analysts expect that First Hawaiian will post 2.37 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, August 17th. First Hawaiian’s dividend payout ratio (DPR) is 45.22%.

Hedge Funds Weigh In On First Hawaiian

A number of institutional investors have recently modified their holdings of FHB. Elevation Wealth Partners LLC boosted its holdings in shares of First Hawaiian by 378.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after buying an additional 738 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in First Hawaiian in the 4th quarter worth $26,000. Anchor Investment Management LLC acquired a new position in First Hawaiian during the 2nd quarter worth $30,000. Global Retirement Partners LLC bought a new stake in First Hawaiian during the 2nd quarter valued at approximately $51,000. Finally, Nykredit A S acquired a new position in shares of First Hawaiian during the second quarter valued at about $65,000. Institutional investors own 97.63% of the company’s stock.

About First Hawaiian

First Hawaiian, Inc (NASDAQ: FHB) is the holding company for First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858 as Bishop & Company, First Hawaiian Bank is the oldest bank in Hawaii and provides banking and financial services to consumers, businesses and government organizations.

The bank offers deposit accounts, residential and commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.