First Hawaiian (NASDAQ:FHB) Lowered to “Buy” at BidaskClub

BidaskClub lowered shares of First Hawaiian (NASDAQ:FHB) from a strong-buy rating to a buy rating in a research note published on Tuesday morning, BidAskClub reports.

A number of other research firms have also weighed in on FHB. ValuEngine lowered shares of First Hawaiian from a hold rating to a sell rating in a report on Tuesday, December 3rd. Wells Fargo & Co set a $25.00 target price on shares of First Hawaiian and gave the stock a hold rating in a report on Friday, October 25th. Sandler O’Neill began coverage on shares of First Hawaiian in a report on Thursday, December 19th. They set a hold rating and a $31.00 target price for the company. Finally, Zacks Investment Research lowered shares of First Hawaiian from a hold rating to a sell rating in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. First Hawaiian presently has an average rating of Hold and a consensus target price of $27.80.

Shares of NASDAQ:FHB opened at $28.73 on Tuesday. The stock’s 50-day moving average price is $28.73 and its 200-day moving average price is $26.94. First Hawaiian has a 12-month low of $22.76 and a 12-month high of $29.47. The stock has a market capitalization of $3.78 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 4.80 and a beta of 1.15. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.03. First Hawaiian had a return on equity of 11.41% and a net margin of 32.03%. The firm had revenue of $143.10 million for the quarter, compared to analysts’ expectations of $145.43 million. During the same period last year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts predict that First Hawaiian will post 2.14 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 25th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.62%. First Hawaiian’s dividend payout ratio is currently 49.76%.

Institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of First Hawaiian during the second quarter worth about $54,000. Tower Research Capital LLC TRC lifted its holdings in First Hawaiian by 2,019.0% in the third quarter. Tower Research Capital LLC TRC now owns 2,119 shares of the bank’s stock worth $57,000 after buying an additional 2,019 shares during the period. First Interstate Bank purchased a new stake in First Hawaiian in the third quarter worth about $80,000. Metropolitan Life Insurance Co NY lifted its holdings in First Hawaiian by 21.5% in the first quarter. Metropolitan Life Insurance Co NY now owns 3,192 shares of the bank’s stock worth $83,000 after buying an additional 564 shares during the period. Finally, Transamerica Financial Advisors Inc. purchased a new stake in First Hawaiian in the second quarter worth about $85,000. Institutional investors own 96.82% of the company’s stock.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking 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 accepts various deposit products, including checking and savings accounts, and time deposit accounts.

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