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

BidaskClub upgraded shares of First Hawaiian (NASDAQ:FHB) from a hold rating to a buy rating in a report released on Thursday, BidAskClub reports.

A number of other brokerages have also weighed in on FHB. Zacks Investment Research upgraded shares of First Hawaiian from a sell rating to a hold rating in a report on Tuesday, July 30th. TheStreet upgraded shares of First Hawaiian from a c rating to a b- rating in a report on Monday, August 5th. ValuEngine lowered shares of First Hawaiian from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. lowered shares of First Hawaiian from a neutral rating to an underweight rating and reduced their price objective for the company from $26.50 to $26.00 in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $27.80.

First Hawaiian stock opened at $27.56 on Thursday. The firm has a market cap of $3.63 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 4.52 and a beta of 1.14. First Hawaiian has a 52-week low of $21.19 and a 52-week high of $28.59. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $25.63 and its two-hundred day moving average is $26.10.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Thursday, July 25th. The bank reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. The company had revenue of $194.39 million for the quarter, compared to analyst estimates of $196.31 million. First Hawaiian had a net margin of 31.56% and a return on equity of 11.48%. During the same period in the prior year, the business earned $0.50 EPS. On average, equities research analysts anticipate that First Hawaiian will post 2.16 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Monday, August 26th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Friday, August 23rd. First Hawaiian’s dividend payout ratio (DPR) is 49.76%.

Several hedge funds and other institutional investors have recently bought and sold shares of FHB. Point72 Asset Management L.P. purchased a new position in shares of First Hawaiian in the 2nd quarter valued at $54,000. Metropolitan Life Insurance Co NY grew its position in First Hawaiian by 21.5% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 3,192 shares of the bank’s stock worth $83,000 after purchasing an additional 564 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new position in First Hawaiian during the 2nd quarter worth $85,000. Machina Capital S.A.S. purchased a new position in First Hawaiian during the 2nd quarter worth $132,000. Finally, Advisor Group Inc. grew its position in First Hawaiian by 11.4% during the 2nd quarter. Advisor Group Inc. now owns 5,594 shares of the bank’s stock worth $144,000 after purchasing an additional 571 shares during the last quarter. 95.86% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Company Profile

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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