First Hawaiian, Inc. (NASDAQ:FHB) Receives Consensus Rating of “Reduce” from Analysts

First Hawaiian, Inc. (NASDAQ:FHB) has been assigned an average recommendation of “Reduce” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $30.25.

A number of brokerages have recently weighed in on FHB. TD Cowen dropped their price objective on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Wednesday, July 29th. Stephens raised First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a research note on Thursday, August 6th. Barclays increased their target price on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Zacks Research downgraded First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Benchmark reissued a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. purchased a new position in First Hawaiian in the 4th quarter valued at about $26,000. Elevation Wealth Partners LLC grew its holdings in shares of First Hawaiian by 378.5% during the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after buying an additional 738 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position 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 valued at $27,000 after buying an additional 1,050 shares during the last quarter. Global Retirement Partners LLC raised its position 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 valued at $43,000 after buying an additional 534 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in shares of First Hawaiian during the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Trading Down 0.5%

Shares of NASDAQ FHB opened at $27.52 on Tuesday. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.74 and a beta of 0.73. First Hawaiian has a 52 week low of $22.65 and a 52 week high of $30.58. The company’s 50-day moving average price is $28.59 and its 200 day moving average price is $26.95.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The firm had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. During the same period last year, the firm posted $0.58 EPS. As a group, research analysts expect that First Hawaiian will post 2.34 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 17th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.8%. First Hawaiian’s dividend payout ratio (DPR) is presently 45.22%.

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.