First Hawaiian, Inc. (NASDAQ:FHB) Receives Consensus Recommendation of “Reduce” from Brokerages

First Hawaiian, Inc. (NASDAQ:FHB) has earned a consensus rating of “Reduce” from the four ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $21.20.

FHB has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on shares of First Hawaiian from $20.00 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 4th. StockNews.com assumed coverage on shares of First Hawaiian in a research report on Thursday, October 5th. They set a “sell” rating for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of First Hawaiian from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Monday, July 31st.

Institutional Investors Weigh In On First Hawaiian

Hedge funds have recently added to or reduced their stakes in the stock. Olstein Capital Management L.P. lifted its stake in First Hawaiian by 31.3% in the second quarter. Olstein Capital Management L.P. now owns 109,000 shares of the bank’s stock valued at $1,963,000 after buying an additional 26,000 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in First Hawaiian by 8.3% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 11,134 shares of the bank’s stock valued at $230,000 after buying an additional 853 shares during the last quarter. FMR LLC lifted its stake in First Hawaiian by 15.4% in the first quarter. FMR LLC now owns 3,095,043 shares of the bank’s stock valued at $63,851,000 after buying an additional 412,608 shares during the last quarter. Lee Financial Group Hawaii Inc. bought a new stake in First Hawaiian in the second quarter valued at $496,000. Finally, Alaska Permanent Fund Corp bought a new stake in First Hawaiian in the second quarter valued at $2,201,000. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Up 0.4 %

Shares of NASDAQ:FHB opened at $19.49 on Thursday. First Hawaiian has a 52-week low of $15.08 and a 52-week high of $28.28. The company has a 50 day moving average of $18.20 and a two-hundred day moving average of $18.56. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 9.33 and a beta of 1.04.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, October 27th. The bank reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. First Hawaiian had a net margin of 24.88% and a return on equity of 11.48%. The company had revenue of $285.90 million during the quarter, compared to the consensus estimate of $199.36 million. During the same quarter last year, the company earned $0.54 earnings per share. On average, equities analysts anticipate that First Hawaiian will post 1.93 earnings per share for the current year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 20th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend is Friday, November 17th. First Hawaiian’s dividend payout ratio is presently 49.76%.

First Hawaiian Company Profile

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 through three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, include checking and savings accounts, and other deposit accounts.