First Hawaiian (NASDAQ:FHB) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

First Hawaiian (NASDAQ:FHB) released its quarterly earnings data on Friday. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01, FiscalAI reports. The business had revenue of $199.68 million during the quarter, compared to the consensus estimate of $225.33 million. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%.During the same period in the prior year, the firm posted $0.41 EPS.

First Hawaiian Price Performance

Shares of NASDAQ FHB traded down $0.34 during midday trading on Friday, reaching $27.23. 724,698 shares of the company traded hands, compared to its average volume of 1,489,917. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.90 and a beta of 0.73. The stock has a 50-day moving average price of $26.11 and a 200 day moving average price of $25.26. First Hawaiian has a 52 week low of $20.32 and a 52 week high of $28.35.

Insider Activity at First Hawaiian

In related news, insider Alan Arizumi sold 6,566 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.34, for a total transaction of $166,382.44. Following the transaction, the insider owned 1,962 shares in the company, valued at $49,717.08. This trade represents a 76.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On First Hawaiian

Several hedge funds and other institutional investors have recently bought and sold shares of FHB. State of Wyoming purchased a new position in First Hawaiian during the 2nd quarter worth approximately $137,000. Corient Private Wealth LLC acquired a new position in First Hawaiian during the second quarter valued at $271,000. Captrust Financial Advisors purchased a new stake in First Hawaiian in the 2nd quarter worth about $242,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in First Hawaiian during the 2nd quarter worth about $237,000. Finally, Cetera Investment Advisers acquired a new stake in First Hawaiian during the 2nd quarter worth about $212,000. 97.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on FHB. TD Cowen reduced their price target on First Hawaiian from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. Barclays upgraded shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $26.00 to $28.00 in a research note on Tuesday, November 11th. Weiss Ratings restated a “hold (c+)” rating on shares of First Hawaiian in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their price objective on First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Tuesday, December 16th. Finally, The Goldman Sachs Group set a $27.50 price target on shares of First Hawaiian and gave the stock a “sell” rating in a research note on Tuesday, January 6th. Six investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $27.64.

First Hawaiian Company Profile

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.