Zacks Investment Research upgraded shares of First Hawaiian Bank (NASDAQ:FHB) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $34.00 target price on the bank’s stock.
According to Zacks, “First Hawaiian, Inc. offers banking services to consumer and commercial customers which includes deposit products, lending services and wealth management, insurance, private banking and trust services. First Hawaiian Inc. is based in San Francisco, California. “
A number of other equities analysts also recently weighed in on the stock. BidaskClub raised shares of First Hawaiian Bank from a hold rating to a buy rating in a research note on Tuesday, June 5th. Bank of America raised shares of First Hawaiian Bank from a neutral rating to a buy rating and boosted their target price for the stock from $34.00 to $35.00 in a research note on Thursday, May 31st. Deutsche Bank raised shares of First Hawaiian Bank from a hold rating to a buy rating in a research note on Thursday, May 3rd. UBS Group assumed coverage on shares of First Hawaiian Bank in a research note on Thursday, March 22nd. They issued a neutral rating and a $31.00 target price for the company. Finally, Keefe, Bruyette & Woods raised shares of First Hawaiian Bank from a market perform rating to an outperform rating in a research note on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $32.88.
Shares of First Hawaiian Bank opened at $29.02 on Tuesday, Marketbeat Ratings reports. First Hawaiian Bank has a 12-month low of $26.30 and a 12-month high of $32.36. The stock has a market cap of $3.99 billion, a P/E ratio of 16.79, a PEG ratio of 1.60 and a beta of 0.51.
First Hawaiian Bank (NASDAQ:FHB) last announced its quarterly earnings results on Thursday, April 26th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. First Hawaiian Bank had a net margin of 24.70% and a return on equity of 9.53%. The firm had revenue of $139.70 million during the quarter, compared to the consensus estimate of $136.66 million. During the same period last year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. equities analysts predict that First Hawaiian Bank will post 2.02 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Tuesday, May 29th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, May 25th. First Hawaiian Bank’s dividend payout ratio is presently 58.18%.
In other news, Director Paribas Bnp sold 15,300,000 shares of First Hawaiian Bank stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $27.56, for a total transaction of $421,668,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert S. Harrison purchased 10,000 shares of the stock in a transaction dated Friday, May 11th. The shares were acquired at an average price of $28.44 per share, with a total value of $284,400.00. Following the transaction, the chairman now owns 44,129 shares in the company, valued at $1,255,028.76. The disclosure for this purchase can be found here. Insiders own 0.10% of the company’s stock.
Several large investors have recently modified their holdings of FHB. Quantbot Technologies LP acquired a new stake in shares of First Hawaiian Bank during the 1st quarter worth approximately $120,000. Xact Kapitalforvaltning AB acquired a new stake in shares of First Hawaiian Bank during the 1st quarter worth approximately $215,000. Dupont Capital Management Corp acquired a new stake in shares of First Hawaiian Bank during the 1st quarter worth approximately $244,000. Koch Industries Inc. acquired a new stake in shares of First Hawaiian Bank during the 4th quarter worth approximately $251,000. Finally, State Board of Administration of Florida Retirement System grew its position in shares of First Hawaiian Bank by 35.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,579 shares of the bank’s stock worth $294,000 after buying an additional 2,749 shares during the period. Institutional investors own 36.63% of the company’s stock.
About First Hawaiian Bank
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 through Retail Banking and Commercial Banking segments. The company accepts various deposit products, such as checking and savings accounts, and time deposit accounts.
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