First Hawaiian (NASDAQ:FHB) Cut to “Sell” at Goldman Sachs Group

Goldman Sachs Group downgraded shares of First Hawaiian (NASDAQ:FHB) from a neutral rating to a sell rating in a research report report published on Thursday, January 4th, MarketBeat.com reports. They currently have $32.00 price target on the bank’s stock.

A number of other equities research analysts also recently commented on FHB. Zacks Investment Research raised shares of First Hawaiian from a sell rating to a hold rating in a research report on Friday, November 3rd. BidaskClub raised shares of First Hawaiian from a strong sell rating to a sell rating in a research report on Wednesday, September 13th. Barclays set a $32.00 price objective on shares of First Hawaiian and gave the company a buy rating in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $34.00 target price on shares of First Hawaiian in a research report on Friday, December 22nd. Finally, UBS Group increased their target price on shares of First Hawaiian from $29.00 to $30.00 and gave the company a neutral rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. First Hawaiian presently has a consensus rating of Hold and an average target price of $32.75.

Shares of First Hawaiian (NASDAQ:FHB) traded down $1.96 during mid-day trading on Thursday, hitting $28.95. 1,239,732 shares of the stock traded hands, compared to its average volume of 306,808. First Hawaiian has a 52-week low of $26.30 and a 52-week high of $34.50. The firm has a market cap of $3,780.00 and a price-to-earnings ratio of 21.93.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Thursday, January 25th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The company had revenue of $134.90 million for the quarter, compared to analyst estimates of $135.40 million. First Hawaiian had a net margin of 23.80% and a return on equity of 9.09%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. analysts forecast that First Hawaiian will post 2.02 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Monday, February 26th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, February 23rd. This is a boost from First Hawaiian’s previous quarterly dividend of $0.22. First Hawaiian’s dividend payout ratio (DPR) is 66.67%.

Several hedge funds have recently added to or reduced their stakes in FHB. Janus Henderson Group PLC acquired a new stake in shares of First Hawaiian in the 2nd quarter worth $127,437,000. FMR LLC lifted its stake in shares of First Hawaiian by 222.8% in the 2nd quarter. FMR LLC now owns 1,751,392 shares of the bank’s stock worth $53,627,000 after acquiring an additional 1,208,748 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of First Hawaiian by 272.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 898,095 shares of the bank’s stock worth $27,499,000 after acquiring an additional 656,786 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of First Hawaiian by 19.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,647,583 shares of the bank’s stock worth $111,689,000 after acquiring an additional 597,492 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of First Hawaiian by 45.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,814,950 shares of the bank’s stock worth $54,975,000 after acquiring an additional 566,520 shares during the period. Institutional investors own 35.74% of the company’s stock.

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About First Hawaiian

First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.

Analyst Recommendations for First Hawaiian (NASDAQ:FHB)

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