First Hawaiian Inc (FHB) Expected to Announce Quarterly Sales of $196.71 Million

Wall Street analysts forecast that First Hawaiian Inc (NASDAQ:FHB) will post $196.71 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for First Hawaiian’s earnings. The lowest sales estimate is $195.92 million and the highest is $197.49 million. First Hawaiian posted sales of $191.20 million during the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The company is expected to issue its next quarterly earnings report on Thursday, July 25th.

On average, analysts expect that First Hawaiian will report full year sales of $793.78 million for the current year, with estimates ranging from $792.99 million to $794.57 million. For the next fiscal year, analysts expect that the business will report sales of $829.37 million, with estimates ranging from $824.27 million to $834.46 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for First Hawaiian.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. First Hawaiian had a return on equity of 11.60% and a net margin of 31.67%. The company had revenue of $145.10 million during the quarter, compared to analysts’ expectations of $146.96 million. During the same quarter in the previous year, the firm earned $0.49 EPS. First Hawaiian’s revenue was up 3.9% on a year-over-year basis.

FHB has been the subject of several recent research reports. Compass Point set a $28.00 price target on First Hawaiian and gave the company a “buy” rating in a research note on Friday, January 25th. Zacks Investment Research raised First Hawaiian from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. ValuEngine cut First Hawaiian from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, BidaskClub cut First Hawaiian from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.60.

In other First Hawaiian news, CEO Robert S. Harrison bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of $25.88 per share, for a total transaction of $129,400.00. Following the transaction, the chief executive officer now directly owns 80,261 shares in the company, valued at $2,077,154.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its position in First Hawaiian by 389.7% in the fourth quarter. American Century Companies Inc. now owns 6,973,382 shares of the bank’s stock worth $156,971,000 after buying an additional 5,549,300 shares during the last quarter. AJO LP bought a new stake in First Hawaiian during the first quarter worth about $109,133,000. Vanguard Group Inc. lifted its stake in First Hawaiian by 56.4% during the third quarter. Vanguard Group Inc. now owns 9,540,506 shares of the bank’s stock worth $259,121,000 after purchasing an additional 3,439,477 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in First Hawaiian by 48.9% during the third quarter. JPMorgan Chase & Co. now owns 5,730,041 shares of the bank’s stock worth $155,628,000 after purchasing an additional 1,882,584 shares during the last quarter. Finally, Norges Bank bought a new stake in First Hawaiian during the fourth quarter worth about $32,842,000. Institutional investors own 82.48% of the company’s stock.

Shares of First Hawaiian stock traded up $0.22 during trading on Friday, reaching $26.88. 83,674 shares of the company’s stock were exchanged, compared to its average volume of 1,263,390. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.82 and a current ratio of 0.82. First Hawaiian has a 1-year low of $21.19 and a 1-year high of $31.28. The stock has a market capitalization of $3.60 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 3.72 and a beta of 1.17.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Tuesday, May 28th will be paid a $0.26 dividend. The ex-dividend date is Friday, May 24th. This represents a $1.04 annualized dividend and a dividend yield of 3.87%. First Hawaiian’s payout ratio is 49.76%.

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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