First Hawaiian (NASDAQ:FHB) Cut to Sell at Wall Street Zen

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

FHB has been the subject of several other research reports. Weiss Ratings restated a “buy (b)” rating on shares of First Hawaiian in a report on Monday, July 6th. Benchmark reiterated a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. The Goldman Sachs Group lifted their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, July 7th. Wells Fargo & Company boosted their price target on shares of First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. Finally, Piper Sandler raised their price objective on shares of First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, First Hawaiian presently has an average rating of “Reduce” and a consensus price target of $30.25.

First Hawaiian Trading Down 1.0%

Shares of NASDAQ FHB opened at $25.50 on Friday. The firm’s 50-day moving average price is $27.04 and its 200-day moving average price is $26.89. The firm has a market capitalization of $3.10 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.62 and a beta of 0.72. First Hawaiian has a 1-year low of $22.65 and a 1-year 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 analysts’ consensus estimates of $0.58 by $0.02. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.The business had revenue of $231.27 million during the quarter, compared to analyst estimates of $227.77 million. During the same period in the previous year, the company posted $0.58 EPS. Equities research analysts forecast that First Hawaiian will post 2.34 EPS for the current year.

First Hawaiian Announces Dividend

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

Institutional Trading of First Hawaiian

Institutional investors have recently made changes to their positions in the company. Anchor Investment Management LLC purchased a new position in First Hawaiian during the second quarter worth about $30,000. Integrated Wealth Concepts LLC increased its stake in First Hawaiian by 10.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 18,092 shares of the bank’s stock valued at $530,000 after buying an additional 1,773 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of First Hawaiian during the 2nd quarter worth approximately $252,000. IFP Advisors Inc lifted its position in shares of First Hawaiian by 17.9% during the 2nd quarter. IFP Advisors Inc now owns 3,231 shares of the bank’s stock worth $95,000 after buying an additional 491 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of First Hawaiian by 150.3% in the 2nd quarter. Allworth Financial LP now owns 7,504 shares of the bank’s stock worth $220,000 after buying an additional 4,506 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Company Profile

First Hawaiian, Inc (NASDAQ: FHB) is the holding company for First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858 as Bishop & Company, First Hawaiian Bank is the oldest bank in Hawaii and provides banking and financial services to consumers, businesses and government organizations.

The bank offers deposit accounts, residential and commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.