First Hawaiian, Inc. (NASDAQ:FHB – Get Free Report) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $23.99, but opened at $24.92. First Hawaiian shares last traded at $24.41, with a volume of 25,320 shares trading hands.
The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $204.83 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%.
First Hawaiian Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s payout ratio is currently 60.12%.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on First Hawaiian
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its position in shares of First Hawaiian by 58.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,020 shares of the bank’s stock valued at $163,000 after acquiring an additional 2,600 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of First Hawaiian by 5.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank’s stock worth $237,000 after purchasing an additional 488 shares during the period. International Assets Investment Management LLC increased its holdings in First Hawaiian by 3,218.7% in the third quarter. International Assets Investment Management LLC now owns 31,229 shares of the bank’s stock valued at $7,230,000 after purchasing an additional 30,288 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in First Hawaiian in the third quarter valued at about $51,000. Finally, Raymond James & Associates boosted its holdings in First Hawaiian by 6.7% during the third quarter. Raymond James & Associates now owns 1,152,785 shares of the bank’s stock worth $26,687,000 after buying an additional 72,816 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.
First Hawaiian Stock Performance
The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 13.85 and a beta of 0.98. The company has a 50-day moving average price of $23.50 and a 200-day moving average price of $22.38.
About First Hawaiian
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and 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 offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.
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