First Hawaiian (NASDAQ:FHB) Earns Sell Rating from Analysts at StockNews.com

Posted by Steven Smith on Mar 19th, 2023

StockNews.com initiated coverage on shares of First Hawaiian (NASDAQ:FHB – Get Rating) in a research report report published on Thursday. The brokerage issued a sell rating on the bank’s stock.

Several other equities research analysts also recently issued reports on FHB. JPMorgan Chase & Co. raised First Hawaiian from an underweight rating to a neutral rating and set a $26.00 price target for the company in a report on Tuesday, December 13th. Wells Fargo & Company raised their price target on First Hawaiian from $26.00 to $28.00 and gave the company an equal weight rating in a report on Monday, January 30th.

First Hawaiian Trading Down 2.4 %

NASDAQ:FHB opened at $21.14 on Thursday. First Hawaiian has a 1-year low of $19.68 and a 1-year high of $29.53. The firm has a fifty day simple moving average of $26.04 and a 200 day simple moving average of $25.81. The stock has a market capitalization of $2.70 billion, a PE ratio of 10.21, a P/E/G ratio of 2.06 and a beta of 1.06.

First Hawaiian (NASDAQ:FHB – Get Rating) last released its earnings results on Friday, January 27th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. First Hawaiian had a net margin of 31.53% and a return on equity of 11.80%. The business had revenue of $219.95 million during the quarter, compared to analysts’ expectations of $216.39 million. On average, equities analysts predict that First Hawaiian will post 2.24 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 3rd. Stockholders of record on Friday, February 17th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Thursday, February 16th. First Hawaiian’s dividend payout ratio is currently 50.24%.

Insider Transactions at First Hawaiian

In other news, CEO Robert S. Harrison bought 23,500 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was bought at an average price of $21.61 per share, with a total value of $507,835.00. Following the completion of the acquisition, the chief executive officer now owns 350,449 shares of the company’s stock, valued at $7,573,202.89. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Hawaiian

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its position in shares of First Hawaiian by 355.2% in the third quarter. CWM LLC now owns 1,006 shares of the bank’s stock worth $25,000 after purchasing an additional 785 shares during the period. Ronald Blue Trust Inc. increased its position in shares of First Hawaiian by 53.8% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,280 shares of the bank’s stock worth $32,000 after purchasing an additional 448 shares during the period. Eagle Bay Advisors LLC bought a new position in shares of First Hawaiian in the second quarter worth $36,000. Parallel Advisors LLC increased its position in shares of First Hawaiian by 40.5% in the fourth quarter. Parallel Advisors LLC now owns 1,405 shares of the bank’s stock worth $37,000 after purchasing an additional 405 shares during the period. Finally, Wipfli Financial Advisors LLC bought a new position in shares of First Hawaiian in the third quarter worth $47,000. Institutional investors and hedge funds own 97.77% of the company’s stock.

First Hawaiian Company Profile

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First Hawaiian, Inc is a bank holding company engaged in the provision of banking services to consumer and commercial customers, including deposit products, lending services, and wealth management and trust services through its subsidiary, First Hawaiian Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Treasury and Other.