First Hawaiian (NASDAQ:FHB) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

First Hawaiian (NASDAQ:FHB) posted its quarterly earnings data on Friday. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04, reports. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. The business had revenue of $210.00 million during the quarter, compared to the consensus estimate of $204.83 million.

First Hawaiian Trading Down 0.1 %

Shares of FHB opened at $23.96 on Monday. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 13.85 and a beta of 0.98. The business’s fifty day simple moving average is $23.50 and its two-hundred day simple moving average is $22.38. First Hawaiian has a 12 month low of $17.47 and a 12 month high of $26.18.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be issued a $0.26 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.34%. First Hawaiian’s payout ratio is currently 60.12%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FHB shares. Keefe, Bruyette & Woods upped their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. The Goldman Sachs Group upped their price objective on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a report on Monday, July 29th. Wells Fargo & Company lowered their target price on shares of First Hawaiian from $22.00 to $20.00 and set an “underweight” rating for the company in a report on Tuesday, October 1st. Barclays upped their price target on First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. reduced their price objective on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $24.17.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FHB. The Manufacturers Life Insurance Company boosted its position in shares of First Hawaiian by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock valued at $218,025,000 after buying an additional 942,634 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of First Hawaiian by 958.2% during the 2nd quarter. AQR Capital Management LLC now owns 439,423 shares of the bank’s stock valued at $9,043,000 after acquiring an additional 397,897 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of First Hawaiian by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock valued at $108,057,000 after acquiring an additional 370,722 shares during the last quarter. American Century Companies Inc. grew its stake in shares of First Hawaiian by 6.5% in the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after acquiring an additional 203,407 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of First Hawaiian by 187.0% during the second quarter. Harbor Capital Advisors Inc. now owns 243,009 shares of the bank’s stock valued at $5,045,000 after purchasing an additional 158,327 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

About First Hawaiian

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 in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.