First Hawaiian (NASDAQ:FHB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of First Hawaiian (NASDAQ:FHB) from a sell rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently weighed in on FHB. Barclays upped their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Benchmark reiterated a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th. The Goldman Sachs Group boosted their target price on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a report on Tuesday, July 7th. TD Cowen dropped their price target on First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a report on Wednesday, July 29th. Finally, Wells Fargo & Company boosted their price objective on First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $30.25.

First Hawaiian Stock Performance

Shares of NASDAQ FHB opened at $25.61 on Friday. The stock has a market cap of $3.12 billion, a PE ratio of 11.13, a PEG ratio of 1.63 and a beta of 0.73. The business has a fifty day moving average of $28.20 and a two-hundred day moving average of $26.90. First Hawaiian has a 52-week low of $22.65 and a 52-week high of $30.58.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, July 24th. The bank reported $0.60 EPS 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 company had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. During the same quarter in the previous year, the company earned $0.58 EPS. Analysts predict that First Hawaiian will post 2.34 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 17th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, August 17th. First Hawaiian’s dividend payout ratio is 45.22%.

Institutional Trading of First Hawaiian

A number of hedge funds and other institutional investors have recently modified their holdings of FHB. BlackRock Inc. acquired a new position in First Hawaiian during the 2nd quarter worth $483,971,000. California State Teachers Retirement System increased its stake in shares of First Hawaiian by 2,436.8% in the 2nd quarter. California State Teachers Retirement System now owns 4,117,676 shares of the bank’s stock valued at $120,648,000 after buying an additional 3,955,356 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of First Hawaiian during the second quarter worth $62,568,000. Bank of America Corp DE acquired a new position in shares of First Hawaiian during the second quarter valued at $53,105,000. Finally, Norges Bank acquired a new position in shares of First Hawaiian during the fourth quarter valued at $40,281,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

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.