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First Hawaiian

Nasdaq:FHB
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FHB
Nasdaq
$3B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

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. The last earnings update was 51 days ago. More info.


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FHB Share Price and Events
7 Day Returns
-0.1%
NasdaqGS:FHB
1.1%
US Banks
0.5%
US Market
1 Year Returns
-15.1%
NasdaqGS:FHB
-8%
US Banks
0.8%
US Market
FHB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Hawaiian (FHB) -0.1% -4.5% -5% -15.1% - -
US Banks 1.1% 0.3% -2.4% -8% 46.4% 40.3%
US Market 0.5% 0.2% 1.1% 0.8% 37.4% 37.5%
1 Year Return vs Industry and Market
  • FHB underperformed the Banks industry which returned -8% over the past year.
  • FHB underperformed the Market in United States of America which returned 0.8% over the past year.
Price Volatility
FHB
Industry
5yr Volatility vs Market

Value

 Is First Hawaiian undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Hawaiian to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Hawaiian.

NasdaqGS:FHB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= $20.25 * 12.9%
$2.62
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $20.25
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:FHB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 21%) (18.93%))
0.786
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NasdaqGS:FHB using Excess Returns Model Model

The calculations below outline how an intrinsic value for First Hawaiian is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:FHB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.9% – 7.5%) * $20.25)
$1.10
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $1.10 / (7.5% - 2.73%)
$23.16
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $20.25 + $23.16
$43.41
NasdaqGS:FHB Discount to Share Price
Calculation Result
Value per share (USD) From above. $43.41
Current discount Discount to share price of $25.65
= -1 x ($25.65 - $43.41) / $43.41
40.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price First Hawaiian is available for.
Intrinsic value
41%
Share price is $25.65 vs Future cash flow value of $43.41
Current Discount Checks
For First Hawaiian to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • First Hawaiian's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • First Hawaiian's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Hawaiian's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Hawaiian's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:FHB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.96
NasdaqGS:FHB Share Price ** NasdaqGS (2019-06-14) in USD $25.65
United States of America Banks Industry PE Ratio Median Figure of 600 Publicly-Listed Banks Companies 12.67x
United States of America Market PE Ratio Median Figure of 3,091 Publicly-Listed Companies 17.68x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Hawaiian.

NasdaqGS:FHB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:FHB Share Price ÷ EPS (both in USD)

= 25.65 ÷ 1.96

13.07x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Hawaiian is overvalued based on earnings compared to the US Banks industry average.
  • First Hawaiian is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Hawaiian's expected growth come at a high price?
Raw Data
NasdaqGS:FHB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.07x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
3.8%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.37x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

NasdaqGS:FHB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.07x ÷ 3.8%

3.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Hawaiian is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on First Hawaiian's assets?
Raw Data
NasdaqGS:FHB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $19.36
NasdaqGS:FHB Share Price * NasdaqGS (2019-06-14) in USD $25.65
United States of America Banks Industry PB Ratio Median Figure of 603 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,244 Publicly-Listed Companies 1.79x
NasdaqGS:FHB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:FHB Share Price ÷ Book Value per Share (both in USD)

= 25.65 ÷ 19.36

1.33x

* Primary Listing of First Hawaiian.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Hawaiian is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess First Hawaiian's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. First Hawaiian has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is First Hawaiian expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Hawaiian expected to grow at an attractive rate?
  • First Hawaiian's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Hawaiian's earnings growth is positive but not above the United States of America market average.
  • First Hawaiian's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:FHB Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:FHB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 3.8%
NasdaqGS:FHB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts -2.5%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 3.8%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:FHB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:FHB Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 298
2020-12-31 625 301 5
2019-12-31 598 290 5
NasdaqGS:FHB Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 727 362 266
2018-12-31 723 351 264
2018-09-30 736 321 216
2018-06-30 730 291 207
2018-03-31 722 258 195
2017-12-31 716 270 184
2017-09-30 713 255 229
2017-06-30 703 239 223
2017-03-31 691 233 221
2016-12-31 709 220 230
2016-09-30 685 167 224
2016-06-30 683 263 225

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Hawaiian's earnings are expected to grow by 3.8% yearly, however this is not considered high growth (20% yearly).
  • First Hawaiian's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:FHB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from First Hawaiian Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FHB Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.47 2.54 2.40 2.00
2020-12-31 2.32 2.38 2.25 7.00
2019-12-31 2.17 2.19 2.14 7.00
NasdaqGS:FHB Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.96
2018-12-31 1.93
2018-09-30 1.56
2018-06-30 1.49
2018-03-31 1.40
2017-12-31 1.32
2017-09-30 1.64
2017-06-30 1.60
2017-03-31 1.59
2016-12-31 1.65
2016-09-30 1.60
2016-06-30 1.62

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • First Hawaiian is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess First Hawaiian's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Hawaiian has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has First Hawaiian performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Hawaiian's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Hawaiian's year on year earnings growth rate has been positive over the past 5 years.
  • First Hawaiian's 1-year earnings growth exceeds its 5-year average (36.7% vs 2.1%)
  • First Hawaiian's earnings growth has not exceeded the US Banks industry average in the past year (36.7% vs 39.5%).
Earnings and Revenue History
First Hawaiian's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Hawaiian Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FHB Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 727.19 266.36 272.07
2018-12-31 723.13 264.39 266.79
2018-09-30 735.92 216.08 276.01
2018-06-30 730.20 207.06 274.17
2018-03-31 722.43 194.90 258.84
2017-12-31 715.91 183.68 255.02
2017-09-30 712.71 228.55 262.59
2017-06-30 703.50 223.42 255.35
2017-03-31 690.98 221.39 253.65
2016-12-31 709.11 230.18 247.13
2016-09-30 685.21 223.84 256.48
2016-06-30 683.44 225.49 255.94
2016-03-31 687.35 225.19 257.08
2015-12-31 670.54 213.78 252.61
2014-12-31 641.94 216.67 235.96

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Hawaiian has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Hawaiian used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if First Hawaiian improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess First Hawaiian's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Hawaiian has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is First Hawaiian's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of First Hawaiian's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Hawaiian Company Filings, last reported 2 months ago.

NasdaqGS:FHB Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,613.20 655.72 646.90
2018-12-31 2,524.84 617.12 1,015.97
2018-09-30 2,423.46 464.27 701.54
2018-06-30 2,459.18 231.46 949.18
2018-03-31 2,520.86 22.53 696.46
2017-12-31 2,532.55 23.22 1,049.33
2017-09-30 2,581.86 24.86 1,134.20
2017-06-30 2,552.60 25.62 1,247.43
2017-03-31 2,505.99 31.22 795.32
2016-12-31 2,476.49 40.39 1,068.04
2016-09-30 2,523.96 61.82 1,208.21
2016-06-30 2,501.01 89.57 1,363.42
2016-03-31 2,471.73 259.80 2,370.30
2015-12-31 2,736.94 239.32 2,661.20
2014-12-31 2,675.04 406.20 1,265.56
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • First Hawaiian has an acceptable proportion of non-loan assets held.
  • First Hawaiian's liabilities are made up of primarily low risk sources of funding.
  • Loans at First Hawaiian are broadly funded by customer deposits.
  • First Hawaiian's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • First Hawaiian has a sufficient allowance for bad loans.
  • First Hawaiian has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess First Hawaiian's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Hawaiian has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is First Hawaiian's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.05%
Current annual income from First Hawaiian dividends. Estimated to be 4.34% next year.
If you bought $2,000 of First Hawaiian shares you are expected to receive $81 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Hawaiian's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • First Hawaiian's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:FHB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 478 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:FHB Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.25 2.00
2020-12-31 1.14 6.00
2019-12-31 1.04 6.00
NasdaqGS:FHB Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-26 1.040 3.918
2019-04-25 1.040 3.837
2019-02-28 1.040 3.941
2019-01-24 1.040 3.904
2018-10-25 0.960 3.963
2018-07-30 0.960 3.482
2018-04-26 0.960 3.304
2018-02-28 0.960 3.405
2018-01-25 0.960 3.398
2017-10-27 0.880 2.981
2017-10-26 0.880 2.980
2017-08-10 0.880 3.069
2017-07-27 0.880 2.996
2017-04-28 0.880 2.993
2017-04-27 0.880 2.931
2017-03-15 0.880 2.963
2017-01-24 0.880 2.742
2016-10-27 0.800 2.549

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, First Hawaiian has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but First Hawaiian only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of First Hawaiian's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess First Hawaiian's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Hawaiian afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Hawaiian has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of First Hawaiian's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bob Harrison
COMPENSATION $4,076,806
AGE 58
TENURE AS CEO 7.4 years
CEO Bio

Mr. Robert S. Harrison, also known as Bob, serves as Chairman and Chief Executive Officer of First Hawaiian, Inc. He serves as the Chairman at First Hawaiian Leasing, Inc. Mr. Harrison has been the Chief Executive Officer of First Hawaiian Bank since January 2012 and Chairman since May 2014. Mr. Harrison served as the Chief Operating Officer of First Hawaiian Bank from December 2009 to January 2012 and as its President from December 2009 to June 2015. He was named Vice Chairman of First Hawaiian Bank in 2007 and served as the bank’s Chief Risk Officer from 2006 to 2009. Mr. Harrison joined First Hawaiian Bank’s Retail Banking group in 1996 and has over 27 years of experience in the financial services industry in Hawaii and on the U.S. mainland. Prior to the Reorganization Transactions, he served as Vice Chairman of BancWest. Mr. Harrison has been Director of Alexander & Baldwin, Inc. since 2012, a Hawaii publicly traded company with interests in, among other things, commercial real estate and real estate development. He also serves as the Chairman of Hawaii Medical Service Association, the independent licensee of Blue Cross and Blue Shield Association, the Hawaii Business Roundtable and is the President of the Hawaii Bankers Association. He is a member of the boards of Hawaii Community Foundation and Blood Bank of Hawaii. He serves on the boards of Hawaii Community Foundation, Blood Bank of Hawaii and is Chairman of Hawaii Medical Service Association, the independent licensee of Blue Cross and Blue Shield Association in Hawaii. He is the current Chairman of the Hawaii Business Roundtable and is President of the Hawaii Bankers Association. He has an MBA from Cornell University’s Johnson Graduate School of Management and graduated from the University of California, Los Angeles, with a bachelor of science in applied mathematics.

CEO Compensation
  • Bob's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Bob's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the First Hawaiian management team in years:

2.9
Average Tenure
56
Average Age
  • The tenure for the First Hawaiian management team is about average.
Management Team

Bob Harrison

TITLE
Chairman & CEO
COMPENSATION
$4M
AGE
58
TENURE
7.4 yrs

Eric Yeaman

TITLE
President & COO
COMPENSATION
$2M
AGE
50
TENURE
4 yrs

Ravi Mallela

TITLE
Executive VP of Finance Group
COMPENSATION
$2M
AGE
48
TENURE
0.8 yrs

Alan Arizumi

TITLE
Vice Chairman of Wealth Management Group
COMPENSATION
$1M
AGE
59
TENURE
5.4 yrs

Mitchell Nishimoto

TITLE
Vice Chairman & Head of Retail Banking Group
COMPENSATION
$753K
AGE
54
TENURE
2.9 yrs

Lance Mizumoto

TITLE
Vice Chairman & Chief Lending Officer of Commercial Banking Group
COMPENSATION
$869K
AGE
60
TENURE
1.9 yrs

Kevin Haseyama

TITLE
Strategic Planning & Investor Relations Manager

Gina O. Anonuevo

TITLE
Executive VP & Chief Compliance Officer

Joel Rappoport

TITLE
Executive VP
TENURE
2.4 yrs

Iris Matsumoto

TITLE
Executive Vice President of Human Resources Division
Board of Directors Tenure

Average tenure and age of the First Hawaiian board of directors in years:

2.1
Average Tenure
59
Average Age
  • The average tenure for the First Hawaiian board of directors is less than 3 years, this suggests a new board.
Board of Directors

Wilton Doane

TITLE
Director
COMPENSATION
$225K
AGE
70
TENURE
3.4 yrs

Bob Harrison

TITLE
Chairman & CEO
COMPENSATION
$4M
AGE
58

Allen Uyeda

TITLE
Lead Independent Director
COMPENSATION
$252K
AGE
68
TENURE
3.4 yrs

Matt Cox

TITLE
Director
COMPENSATION
$191K
AGE
57
TENURE
3.4 yrs

Faye Kurren

TITLE
Director
COMPENSATION
$108K
AGE
67
TENURE
0.8 yrs

Jenai Wall

TITLE
Director
COMPENSATION
$110K
AGE
59
TENURE
0.8 yrs

Craig Wo

TITLE
Director
COMPENSATION
$91K
AGE
52
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
11. Mar 19 Buy Robert Harrison Individual 08. Mar 19 08. Mar 19 5,000 $25.88 $129,398
01. Feb 19 Sell Bancwest Corporation Company 01. Feb 19 01. Feb 19 -24,859,750 $26.11 $-649,088,073
10. Sep 18 Sell Bancwest Corporation Company 10. Sep 18 10. Sep 18 -20,000,000 $28.70 $-574,000,000
02. Aug 18 Sell Bancwest Corporation Company 01. Aug 18 01. Aug 18 -20,000,000 $27.75 $-555,000,000
X
Management checks
We assess First Hawaiian's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Hawaiian has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is First Hawaiian, Inc. (NASDAQ:FHB) A Smart Pick For Income Investors?

In this case, First Hawaiian pays a decent-sized 4.0% dividend yield, and has been distributing cash to shareholders for the past three years. … We're conscious though that one of the best ways to detect a multi-decade consistent dividend payer, is to watch a company pay dividends for 20 years - a distinction First Hawaiian has not achieved yet. … Companies that are growing earnings tend to be the best dividend stocks over the long term.

Simply Wall St -

First Hawaiian, Inc. (NASDAQ:FHB) Insiders Increased Their Holdings

In the last twelve months, the biggest single purchase by an insider was when Chairman & CEO Robert Harrison bought US$284k worth of shares at a price of US$28.44 per share. … So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$27.78). … As a general rule, we feel more positive about a stock when an insider has bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price

Simply Wall St -

Real Risks To Know Before Investing In First Hawaiian, Inc. (NASDAQ:FHB)

As a small-cap bank with a market capitalisation of US$3.6b, First Hawaiian, Inc.’s (NASDAQ:FHB) profit and value are directly affected by economic growth. … Check out our latest analysis for First Hawaiian … Does First Hawaiian Understand Its Own Risks?

Simply Wall St -

Don't Sell First Hawaiian, Inc. (NASDAQ:FHB) Before You Read This

We'll show how you can use First Hawaiian, Inc.'s (NASDAQ:FHB) P/E ratio to inform your assessment of the investment opportunity. … Looking at earnings over the last twelve months, First Hawaiian has a P/E ratio of 13.83. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Did Changing Sentiment Drive First Hawaiian's (NASDAQ:FHB) Share Price Down By 12%?

But in truth the last year hasn't been good for the share price. … While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … During the unfortunate twelve months during which the First Hawaiian share price fell, it actually saw its earnings per share (EPS) improve by 47%.

Simply Wall St -

Do Directors Own First Hawaiian, Inc. (NASDAQ:FHB) Shares?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Companies of this size are usually well known to retail investors, too.

Simply Wall St -

4 Days Left Before First Hawaiian, Inc. (NASDAQ:FHB) Will Be Trading Ex-Dividend

(NASDAQ:FHB) will be paying shareholders an upcoming dividend amount of US$0.26 per share. … 5 questions to ask before buying a dividend stock? … Is it paying an annual yield above 75% of dividend payers?

Simply Wall St -

Have Insiders Been Buying First Hawaiian, Inc. (NASDAQ:FHB) Shares?

So we'll take a look at whether insiders have been buying or selling shares in First Hawaiian, Inc. … That means that an insider was happy to buy shares at above the current price … We generally consider it a positive if insiders have been buying on market, even above the current price

Simply Wall St -

Is First Hawaiian, Inc. (NASDAQ:FHB) Potentially Undervalued?

saw a decent share price growth in the teens level on the NasdaqGS over the last few months. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Today I will analyse the most recent data on First Hawaiian’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

Should First Hawaiian, Inc. (NASDAQ:FHB) Be Part Of Your Portfolio?

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … (NASDAQ:FHB) has paid a dividend to shareholders in the last few years. … 5 questions to ask before buying a dividend stock

Simply Wall St -

Company Info

Description

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. It also provides residential and commercial mortgage loans, home equity lines of credit, automobile loans and leases, personal lines of credit, installment loans, and small business loans and leases, commercial lease financing, and auto dealer financing. In addition, the company offers personal installment, credit card, individual investment and financial planning, insurance protection, trust and estate, private banking, retirement planning, treasury, and merchant processing services. As of December 31, 2018, it operated 60 branches Oahu, Maui, Hawaii, Kauai, Guam, and Saipan. The company was formerly known as BancWest Corporation and changed its name to First Hawaiian, Inc. in April 2016. The company was founded in 1858 and is headquartered in Honolulu, Hawaii. First Hawaiian, Inc. is a subsidiary of BancWest Corporation.

Details
Name: First Hawaiian, Inc.
FHB
Exchange: NasdaqGS
Founded: 1858
$3,463,058,184
135,012,015
Website: http://www.fhb.com
Address: First Hawaiian, Inc.
999 Bishop Street,
29th Floor,
Honolulu,
Hawaii, 96813,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS FHB New Common Stock Nasdaq Global Select US USD 04. Aug 2016
DB 1HI New Common Stock Deutsche Boerse AG DE EUR 04. Aug 2016
Number of employees
Current staff
Staff numbers
2,200
First Hawaiian employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 00:40
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/05/28
Last earnings filing: 2019/04/26
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.