Zacks: Brokerages Anticipate First Hawaiian, Inc. (NASDAQ:FHB) Will Post Quarterly Sales of $181.73 Million

Analysts expect that First Hawaiian, Inc. (NASDAQ:FHB) will report sales of $181.73 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for First Hawaiian’s earnings. The highest sales estimate is $186.00 million and the lowest is $177.85 million. First Hawaiian posted sales of $182.90 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.6%. The business is expected to issue its next earnings report on Friday, October 22nd.

According to Zacks, analysts expect that First Hawaiian will report full-year sales of $715.53 million for the current year, with estimates ranging from $707.08 million to $723.30 million. For the next financial year, analysts forecast that the company will post sales of $723.30 million, with estimates ranging from $710.81 million to $742.70 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover First Hawaiian.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Saturday, July 24th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.21. The business had revenue of $180.85 million during the quarter, compared to analyst estimates of $132.60 million. First Hawaiian had a net margin of 36.16% and a return on equity of 10.13%. During the same quarter last year, the business earned $0.15 EPS.

Several analysts have weighed in on the company. Zacks Investment Research upgraded First Hawaiian from a “sell” rating to a “hold” rating in a research report on Tuesday, July 27th. Wells Fargo & Company raised First Hawaiian from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $23.00 to $28.00 in a research note on Thursday, July 1st. Finally, Raymond James started coverage on First Hawaiian in a research note on Wednesday, July 7th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, First Hawaiian has an average rating of “Hold” and an average target price of $25.10.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SkyView Investment Advisors LLC grew its position in First Hawaiian by 282.9% in the first quarter. SkyView Investment Advisors LLC now owns 1,076 shares of the bank’s stock worth $29,000 after acquiring an additional 795 shares during the period. Allworth Financial LP raised its stake in First Hawaiian by 50.0% in the second quarter. Allworth Financial LP now owns 1,200 shares of the bank’s stock valued at $34,000 after buying an additional 400 shares in the last quarter. Eaton Vance Management purchased a new position in shares of First Hawaiian during the first quarter worth about $37,000. Van ECK Associates Corp purchased a new position in shares of First Hawaiian during the second quarter worth about $48,000. Finally, Eagle Bay Advisors LLC purchased a new position in shares of First Hawaiian during the second quarter worth about $51,000.

Shares of FHB stock opened at $28.64 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. First Hawaiian has a 52 week low of $14.15 and a 52 week high of $30.80. The firm has a 50 day moving average of $27.45 and a 200-day moving average of $27.94.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Monday, August 23rd were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, August 20th. This represents a $1.04 annualized dividend and a dividend yield of 3.63%. First Hawaiian’s dividend payout ratio (DPR) is presently 71.72%.

About First Hawaiian

First Hawaiian, Inc is a bank holding company, which engages in the provision of banking services to consumer and commercial customers, including deposit products, lending services, and wealth management and trust services through its subsidiary First Hawaiian Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Treasury and Other.

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