First Hawaiian (NASDAQ:FHB) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of First Hawaiian (NASDAQ:FHB) from a sell rating to a hold rating in a research note released on Wednesday morning, 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. “

Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Zynga from a buy rating to a hold rating in a research report on Tuesday, June 18th. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $28.25.

Shares of FHB stock traded up $0.20 during trading hours on Wednesday, hitting $25.45. The company’s stock had a trading volume of 711,759 shares, compared to its average volume of 1,090,680. The stock has a fifty day moving average of $25.63. The firm has a market capitalization of $3.48 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 3.99 and a beta of 1.14. First Hawaiian has a twelve month low of $21.19 and a twelve month high of $30.02. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.23.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Thursday, April 25th. The bank reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The business had revenue of $145.10 million for the quarter, compared to analyst estimates of $146.96 million. First Hawaiian had a net margin of 31.67% and a return on equity of 11.60%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 earnings per share. On average, analysts anticipate that First Hawaiian will post 2.13 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Reinhart Partners Inc. grew its position in First Hawaiian by 40.3% during the first quarter. Reinhart Partners Inc. now owns 180,252 shares of the bank’s stock valued at $4,696,000 after purchasing an additional 51,817 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in First Hawaiian by 134.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,897 shares of the bank’s stock valued at $883,000 after buying an additional 19,430 shares during the period. American Century Companies Inc. increased its holdings in First Hawaiian by 3.9% in the 1st quarter. American Century Companies Inc. now owns 7,242,712 shares of the bank’s stock valued at $188,673,000 after buying an additional 269,330 shares during the period. Westwood Holdings Group Inc. increased its holdings in First Hawaiian by 73.2% in the 1st quarter. Westwood Holdings Group Inc. now owns 873,046 shares of the bank’s stock valued at $22,743,000 after buying an additional 369,087 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. bought a new stake in First Hawaiian in the 1st quarter valued at $8,249,000. 97.09% of the stock is currently owned by institutional investors.

About First Hawaiian

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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