FHB

First HawaiianNasdaqGS:FHB Stock Report

Market Cap

US$3.5b

7D

0.1%

1Y

71.6%

Updated

18 Sep, 2021

Data

Company Financials +
FHB fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance4/6
Financial Health6/6
Dividends4/6

FHB Overview

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.

First Hawaiian Competitors

Price History & Performance

Summary of all time highs, changes and price drops for First Hawaiian
Historical stock prices
Current Share PriceUS$26.65
52 Week HighUS$14.16
52 Week LowUS$30.80
Beta1.3
1 Month Change-1.08%
3 Month Change-1.37%
1 Year Change71.60%
3 Year Change-5.63%
5 Year Change-0.45%
Change since IPO9.90%

Recent News & Updates

Aug 07

First Hawaiian Benefiting From An Improved Economy, Still Offering A Reasonable Dividend

First Hawaiian is one of the higher quality regional banks thanks to a leading position in the oligopolistic Hawaiian banking market. Second quarter financial results were helped by lower provision expenses on the back of an improved economic landscape, while underlying loan growth was also positive. The lower interest rate environment is putting pressure on net interest income, though the bank should be a big beneficiary when rates do move higher. While the shares are not standout cheap at 2.1x tangible book value, a circa 3.65% dividend yield is just about attractive enough for income investors.

Jul 26
First Hawaiian (NASDAQ:FHB) Has Re-Affirmed Its Dividend Of US$0.26

First Hawaiian (NASDAQ:FHB) Has Re-Affirmed Its Dividend Of US$0.26

The board of First Hawaiian, Inc. ( NASDAQ:FHB ) has announced that it will pay a dividend on the 3rd of September...

Shareholder Returns

FHBUS BanksUS Market
7D0.1%0.9%-0.6%
1Y71.6%63.3%33.8%

Return vs Industry: FHB exceeded the US Banks industry which returned 63.3% over the past year.

Return vs Market: FHB exceeded the US Market which returned 33.8% over the past year.

Price Volatility

Is FHB's price volatile compared to industry and market?
FHB volatility
FHB Beta1.3
Industry Beta1.37
Market Beta1

Stable Share Price: FHB is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: FHB's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
18582,100Bob Harrisonhttps://www.fhb.com

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.

First Hawaiian Fundamentals Summary

How do First Hawaiian's earnings and revenue compare to its market cap?
FHB fundamental statistics
Market CapUS$3.45b
Earnings (TTM)US$271.27m
Revenue (TTM)US$735.53m

12.7x

P/E Ratio

1.3x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FHB income statement (TTM)
RevenueUS$735.53m
Cost of RevenueUS$0
Gross ProfitUS$735.53m
ExpensesUS$464.26m
EarningsUS$271.27m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)2.09
Gross Margin100.00%
Net Profit Margin36.88%
Debt/Equity Ratio7.6%

How did FHB perform over the long term?

See historical performance and comparison

Dividends

3.9%

Current Dividend Yield

50%

Payout Ratio

Valuation

Is First Hawaiian undervalued compared to its fair value and its price relative to the market?

31.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FHB ($26.65) is trading below our estimate of fair value ($39.12)

Significantly Below Fair Value: FHB is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FHB is poor value based on its PE Ratio (12.7x) compared to the US Banks industry average (10.8x).

PE vs Market: FHB is good value based on its PE Ratio (12.7x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: FHB's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: FHB is overvalued based on its PB Ratio (1.3x) compared to the US Banks industry average (1.1x).


Future Growth

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

-7.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FHB's earnings are forecast to decline over the next 3 years (-7.6% per year).

Earnings vs Market: FHB's earnings are forecast to decline over the next 3 years (-7.6% per year).

High Growth Earnings: FHB's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FHB's revenue is expected to decline over the next 3 years (-6% per year).

High Growth Revenue: FHB's revenue is forecast to decline over the next 3 years (-6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FHB's Return on Equity is forecast to be low in 3 years time (8.4%).


Past Performance

How has First Hawaiian performed over the past 5 years?

1.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FHB has high quality earnings.

Growing Profit Margin: FHB's current net profit margins (36.9%) are higher than last year (31.4%).


Past Earnings Growth Analysis

Earnings Trend: FHB's earnings have grown by 1.2% per year over the past 5 years.

Accelerating Growth: FHB's earnings growth over the past year (35%) exceeds its 5-year average (1.2% per year).

Earnings vs Industry: FHB earnings growth over the past year (35%) underperformed the Banks industry 36%.


Return on Equity

High ROE: FHB's Return on Equity (9.9%) is considered low.


Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FHB's Assets to Equity ratio (8.9x) is low.

Allowance for Bad Loans: FHB has a sufficient allowance for bad loans (1899%).

Low Risk Liabilities: 97% of FHB's liabilities are made up of primarily low risk sources of funding.

Loan Level: FHB has an appropriate level of Loans to Assets ratio (53%).

Low Risk Deposits: FHB's Loans to Deposits ratio (62%) is appropriate.

Level of Bad Loans: FHB has an appropriate level of bad loans (0.1%).


Dividend

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

3.90%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FHB's dividend (3.9%) is higher than the bottom 25% of dividend payers in the US market (1.33%).

High Dividend: FHB's dividend (3.9%) is in the top 25% of dividend payers in the US market (3.6%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, FHB has been paying a dividend for less than 10 years.

Growing Dividend: FHB's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49.8%), FHB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FHB's dividends in 3 years are forecast to be covered by earnings (59.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.4yrs

Average management tenure


CEO

Bob Harrison (61 yo)

9.67yrs

Tenure

US$5,651,505

Compensation

Mr. Robert Scott Harrison, also known as Bob, is Chairman of the Board, President and Chief Executive Officer of First Hawaiian, Inc. and First Hawaiian Bank. Prior to being named Chief Executive Officer i...


CEO Compensation Analysis

Compensation vs Market: Bob's total compensation ($USD5.65M) is about average for companies of similar size in the US market ($USD5.27M).

Compensation vs Earnings: Bob's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: FHB's management team is considered experienced (4.4 years average tenure).


Board Members

Experienced Board: FHB's board of directors are considered experienced (3.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

First Hawaiian, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: First Hawaiian, Inc.
  • Ticker: FHB
  • Exchange: NasdaqGS
  • Founded: 1858
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$3.453b
  • Shares outstanding: 129.59m
  • Website: https://www.fhb.com

Number of Employees


Location

  • First Hawaiian, Inc.
  • 999 Bishop Street
  • 29th Floor
  • Honolulu
  • Hawaii
  • 96813
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/18 22:11
End of Day Share Price2021/09/17 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.