First Hawaiian (NASDAQ:FHB) Posts Earnings Results, Beats Estimates By $0.02 EPS

First Hawaiian (NASDAQ:FHBGet Free Report) issued its quarterly earnings data on Friday. The bank reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02, FiscalAI reports. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.The firm had revenue of $220.35 million during the quarter, compared to analyst estimates of $223.59 million. During the same quarter last year, the business posted $0.47 earnings per share.

First Hawaiian Price Performance

Shares of NASDAQ FHB opened at $26.41 on Friday. The company has a market cap of $3.25 billion, a P/E ratio of 12.00, a PEG ratio of 2.82 and a beta of 0.71. First Hawaiian has a 1 year low of $22.51 and a 1 year high of $28.35. The firm has a 50-day simple moving average of $25.30 and a two-hundred day simple moving average of $25.46.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.04 annualized dividend and a yield of 3.9%. First Hawaiian’s dividend payout ratio (DPR) is presently 45.61%.

Insider Transactions at First Hawaiian

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by insiders.

Institutional Trading of First Hawaiian

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted 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 worth $27,000 after purchasing an additional 1,050 shares during the last quarter. Global Retirement Partners LLC lifted its stake in First Hawaiian by 45.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares during the last quarter. Danske Bank A S bought a new stake in First Hawaiian in the third quarter worth about $47,000. CIBC Private Wealth Group LLC bought a new stake in First Hawaiian in the third quarter worth about $48,000. Finally, Allworth Financial LP lifted its stake in First Hawaiian by 155.8% in the third quarter. Allworth Financial LP now owns 2,072 shares of the bank’s stock worth $51,000 after purchasing an additional 1,262 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of First Hawaiian from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings raised shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. JPMorgan Chase & Co. lowered their price target on shares of First Hawaiian from $29.00 to $25.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. Finally, Wells Fargo & Company increased their price target on shares of First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $26.93.

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First Hawaiian Company Profile

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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.

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Earnings History for First Hawaiian (NASDAQ:FHB)

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