First Hawaiian (NASDAQ:FHB) Releases Earnings Results, Beats Expectations By $0.01 EPS

by · The Cerbat Gem

First Hawaiian (NASDAQ:FHBGet Free Report) posted its earnings results on Friday. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01, FiscalAI reports. The business had revenue of $199.68 million during the quarter, compared to analyst estimates of $225.33 million. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%.During the same quarter in the previous year, the firm earned $0.41 EPS.

First Hawaiian Stock Performance

NASDAQ FHB traded down $0.34 during mid-day trading on Friday, reaching $27.23. 724,698 shares of the stock were exchanged, compared to its average volume of 1,489,917. The business’s 50 day moving average is $26.11 and its 200-day moving average is $25.26. First Hawaiian has a 1 year low of $20.32 and a 1 year high of $28.35. The company has a market capitalization of $3.37 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.90 and a beta of 0.73.

Insider Buying and Selling

In other First Hawaiian news, insider Alan Arizumi sold 6,566 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $25.34, for a total transaction of $166,382.44. Following the transaction, the insider directly owned 1,962 shares of the company’s stock, valued at $49,717.08. This trade represents a 76.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Trading of First Hawaiian

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased 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 valued at $27,000 after purchasing an additional 1,050 shares during the last quarter. Danske Bank A S acquired a new position in First Hawaiian during the 3rd quarter worth approximately $47,000. CIBC Private Wealth Group LLC purchased a new position in First Hawaiian in the third quarter worth $48,000. Allworth Financial LP grew its holdings in shares of First Hawaiian by 155.8% in the 3rd quarter. Allworth Financial LP now owns 2,072 shares of the bank’s stock worth $51,000 after acquiring an additional 1,262 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of First Hawaiian by 333.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,759 shares of the bank’s stock worth $69,000 after purchasing an additional 2,123 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analysts Set New Price Targets

FHB has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $27.50 price target on shares of First Hawaiian and gave the stock a “sell” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. increased their price objective on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 16th. TD Cowen lowered their price objective on First Hawaiian from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, January 7th. Barclays raised First Hawaiian from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $26.00 to $28.00 in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Hawaiian in a research note on Monday, December 29th. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, First Hawaiian currently has an average rating of “Reduce” and a consensus price target of $27.64.

Check Out Our Latest Report on FHB

First Hawaiian Company Profile

(Get Free Report)

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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