First Hawaiian (NASDAQ:FHB) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of First Hawaiian (NASDAQ:FHB) from a hold rating to a sell rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “First Hawaiian, Inc. offers banking services to consumer and commercial customers which includes deposit products, lending services and wealth management, insurance, private banking and trust services. First Hawaiian Inc. is based in San Francisco, California. “

A number of other research analysts have also recently weighed in on the company. ValuEngine cut First Hawaiian from a hold rating to a sell rating in a report on Tuesday, July 2nd. TheStreet upgraded First Hawaiian from a c rating to a b- rating in a report on Monday, August 5th. JPMorgan Chase & Co. cut First Hawaiian from a neutral rating to an underweight rating and reduced their target price for the company from $26.50 to $26.00 in a report on Monday, July 29th. Finally, BidaskClub upgraded First Hawaiian from a hold rating to a buy rating in a report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. First Hawaiian currently has an average rating of Hold and an average target price of $27.80.

Shares of First Hawaiian stock opened at $26.98 on Tuesday. First Hawaiian has a twelve month low of $21.19 and a twelve month high of $28.20. The stock has a market capitalization of $3.65 billion, a P/E ratio of 12.62, a PEG ratio of 4.54 and a beta of 1.14. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average price is $25.98 and its 200 day moving average price is $26.15.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Thursday, July 25th. The bank reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. First Hawaiian had a return on equity of 11.48% and a net margin of 31.56%. The firm had revenue of $194.39 million for the quarter, compared to analysts’ expectations of $196.31 million. During the same quarter last year, the firm earned $0.50 earnings per share. As a group, sell-side analysts predict that First Hawaiian will post 2.16 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, August 26th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend was Friday, August 23rd. First Hawaiian’s dividend payout ratio is presently 49.76%.

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of Nova Scotia lifted its stake in shares of First Hawaiian by 0.7% during the second quarter. Bank of Nova Scotia now owns 72,604 shares of the bank’s stock worth $1,878,000 after purchasing an additional 504 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its stake in shares of First Hawaiian by 21.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 3,192 shares of the bank’s stock worth $83,000 after purchasing an additional 564 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of First Hawaiian by 11.4% during the second quarter. Advisor Group Inc. now owns 5,594 shares of the bank’s stock worth $144,000 after purchasing an additional 571 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of First Hawaiian by 11.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,297 shares of the bank’s stock worth $215,000 after purchasing an additional 875 shares in the last quarter. Finally, Cerebellum GP LLC lifted its stake in shares of First Hawaiian by 7.4% during the second quarter. Cerebellum GP LLC now owns 13,473 shares of the bank’s stock worth $349,000 after purchasing an additional 923 shares in the last quarter. Institutional investors own 95.86% of the company’s stock.

First Hawaiian Company Profile

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking 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 accepts various deposit products, including checking and savings accounts, and time deposit accounts.

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