First Hawaiian (NASDAQ:FHB) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of First Hawaiian (NASDAQ:FHB) from a strong-buy rating to a hold rating in a research note released on Thursday morning,Zacks.com reports.

FHB has been the topic of several other reports. Barclays upgraded 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 report on Tuesday, November 11th. Cowen restated a “hold” rating on shares of First Hawaiian in a research report on Tuesday, October 28th. JPMorgan Chase & Co. upped their price objective on shares of First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Tuesday, December 16th. Weiss Ratings cut shares of First Hawaiian from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Piper Sandler boosted their target price on shares of First Hawaiian from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, October 27th. Seven research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $27.71.

First Hawaiian Stock Down 0.7%

Shares of First Hawaiian stock opened at $26.06 on Thursday. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.68 and a beta of 0.74. First Hawaiian has a twelve month low of $20.32 and a twelve month high of $28.28. The company’s fifty day moving average is $25.03 and its 200 day moving average is $24.96.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Monday, August 9th. The bank reported $0.44 EPS for the quarter. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%.The firm had revenue of $129.16 million for the quarter. As a group, equities analysts anticipate that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were paid a $0.26 dividend. The ex-dividend date was Monday, November 17th. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. First Hawaiian’s payout ratio is currently 50.73%.

Insider Activity

In related news, insider Alan Arizumi sold 36,460 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $25.35, for a total transaction of $924,261.00. Following the transaction, the insider owned 37,508 shares in the company, valued at $950,827.80. The trade was a 49.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On First Hawaiian

A number of institutional investors and hedge funds have recently made changes to their positions in FHB. Farther Finance Advisors LLC increased its position in First Hawaiian by 74.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock valued at $25,000 after buying an additional 438 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in First Hawaiian by 2,916.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,050 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of First Hawaiian by 11,325.0% during the second quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,359 shares in the last quarter. Danske Bank A S acquired a new position in shares of First Hawaiian during the third quarter worth approximately $47,000. Finally, CIBC Private Wealth Group LLC bought a new position in shares of First Hawaiian in the 3rd quarter worth $48,000. Institutional investors 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.