First Hawaiian (NASDAQ:FHB) Shares Gap Up Following Strong Earnings

First Hawaiian, Inc. (NASDAQ:FHB - Get Free Report)'s stock price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $26.79, but opened at $27.81. First Hawaiian shares last traded at $27.58, with a volume of 37,235 shares traded.

The bank reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same quarter in the previous year, the business earned $0.37 earnings per share.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, February 14th. First Hawaiian's payout ratio is presently 58.10%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FHB shares. Barclays upped their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Monday. Stephens started coverage on First Hawaiian in a report on Wednesday, November 27th. They issued an "equal weight" rating and a $30.00 target price for the company. JPMorgan Chase & Co. boosted their price target on First Hawaiian from $27.00 to $29.00 and gave the company an "underweight" rating in a research note on Monday. Wells Fargo & Company increased their price objective on First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research note on Monday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Hawaiian from $28.00 to $31.00 and gave the company a "market perform" rating in a research note on Monday. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FHB. Squarepoint Ops LLC boosted its holdings in shares of First Hawaiian by 122.9% during the second quarter. Squarepoint Ops LLC now owns 25,432 shares of the bank's stock worth $528,000 after acquiring an additional 14,021 shares during the period. Algert Global LLC bought a new position in shares of First Hawaiian in the 2nd quarter valued at $267,000. Creative Planning boosted its stake in shares of First Hawaiian by 10.8% in the 2nd quarter. Creative Planning now owns 22,205 shares of the bank's stock valued at $461,000 after purchasing an additional 2,156 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of First Hawaiian during the 2nd quarter valued at approximately $462,000. Finally, GAMMA Investing LLC increased its position in First Hawaiian by 49.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,163 shares of the bank's stock worth $73,000 after purchasing an additional 1,041 shares in the last quarter. Institutional investors own 97.63% of the company's stock.

First Hawaiian Stock Performance

The firm has a market cap of $3.54 billion, a P/E ratio of 15.47 and a beta of 0.99. The company's 50 day moving average is $26.40 and its 200 day moving average is $25.06.

First Hawaiian Company Profile

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