Stock Analysis Report

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Executive Summary

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. More Details

Snowflake Analysis

Flawless balance sheet average dividend payer.

Similar Companies

Share Price & News

How has First Hawaiian's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: FHB is less volatile than 75% 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.

Market Performance

7 Day Return




US Banks


US Market

1 Year Return




US Banks


US Market

Return vs Industry: FHB underperformed the US Banks industry which returned 19.4% over the past year.

Return vs Market: FHB underperformed the US Market which returned 38.9% over the past year.

Shareholder returns

7 Day1.4%-0.2%-4.6%
30 Day16.9%15.4%0.6%
90 Day22.5%22.3%1.9%
1 Year22.9%16.5%24.2%19.8%41.5%38.5%
3 Year12.6%-0.9%11.6%2.0%56.7%46.7%
5 Yearn/a91.3%67.0%123.5%98.6%

Long-Term Price Volatility Vs. Market

How volatile is First Hawaiian's share price compared to the market and industry in the last 5 years?

Simply Wall St News


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


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: FHB ($27.89) is trading below our estimate of fair value ($28.53)

Significantly Below Fair Value: FHB is trading below fair value, but not by a significant amount.

Price To Earnings Ratio

PE vs Industry: FHB is poor value based on its PE Ratio (19.5x) compared to the US Banks industry average (12.5x).

PE vs Market: FHB is good value based on its PE Ratio (19.5x) compared to the US market (21.2x).

Price to Earnings Growth Ratio

PEG Ratio: FHB is poor value based on its PEG Ratio (2.8x)

Price to Book Ratio

PB vs Industry: FHB is overvalued based on its PB Ratio (1.3x) compared to the US Banks industry average (1x).

Next Steps

Future Growth

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


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: FHB's forecast earnings growth (6.9% per year) is above the savings rate (2%).

Earnings vs Market: FHB's earnings (6.9% per year) are forecast to grow slower than the US market (20.2% per year).

High Growth Earnings: FHB's earnings are forecast to grow, but not significantly.

Revenue vs Market: FHB's revenue is expected to decline over the next 3 years (-7.8% per year).

High Growth Revenue: FHB's revenue is forecast to decline over the next 3 years (-7.8% 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 (7.9%).

Next Steps

Past Performance

How has First Hawaiian performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FHB has high quality earnings.

Growing Profit Margin: FHB's current net profit margins (30.4%) are lower than last year (37.8%).

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 has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FHB had negative earnings growth (-34.6%) over the past year, making it difficult to compare to the Banks industry average (0.5%).

Return on Equity

High ROE: FHB's Return on Equity (6.8%) is considered low.

Next Steps

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 (8.3x) is low.

Allowance for Bad Loans: FHB has a sufficient allowance for bad loans (2295%).

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 (58%).

Low Risk Deposits: FHB's Loans to Deposits ratio (68%) is appropriate.

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

Next Steps


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


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: FHB's dividend (3.73%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: FHB's dividend (3.73%) is in the top 25% of dividend payers in the US market (3.72%)

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 4 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (72.7%), FHB's dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: FHB's dividends in 3 years are forecast to be covered by earnings (71.6% payout ratio).

Next Steps


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


Average management tenure


Bob Harrison (60 yo)





Mr. Robert Scott Harrison, also known as Bob, serves as Director at Bishop Street Capital Management Corp. Mr. Harrison serves as President at First Hawaiian, Inc. since September 2019. He also serves as C...

CEO Compensation Analysis

Compensation vs Market: Bob's total compensation ($USD6.01M) is about average for companies of similar size in the US market ($USD4.97M).

Compensation vs Earnings: Bob's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

Leadership Team

Robert Harrison
$ 5.7m
Ravi Mallela
Executive VP & CFO2.42yrsUS$1.58m0.056%
$ 2.0m
Alan Arizumi
Vice Chairman of Wealth Management Group7.08yrsUS$1.21m0.031%
$ 1.1m
Ralph Mesick
Vice Chairman & Chief Risk Officer4.58yrsUS$909.94k0.028%
$ 1.0m
Lance Mizumoto
Vice Chairman & Chief Lending Officer of Wholesale Banking Groupno dataUS$1.12m0.014%
$ 522.5k
Kevin Haseyama
Strategic Planning & Investor Relations Managerno datano datano data
Gina O. Anonuevo
Executive VP & Chief Compliance Officerno datano datano data
Joel Rappoport
Executive VP4.08yrsno datano data
Iris Matsumoto
Executive Vice President of Human Resources Divisionno datano datano data
Christopher Dods
Executive Vice President of Digital Banking & Marketing Group5.08yrsno datano data
Mitchell Nishimoto
Vice Chairman & Head of Retail Banking Group4.58yrsUS$753.38k0.021%
$ 759.8k
Neill Char
Executive Vice President of Commercial Banking Group0.50yrno datano data


Average Tenure


Average Age

Experienced Management: FHB's management team is considered experienced (4.6 years average tenure).

Board Members

Robert Harrison
$ 5.7m
Wilton Doane
Independent Director5.08yrsUS$204.26k0.036%
$ 1.3m
Faye Kurren
Independent Director2.5yrsUS$178.26k0.0049%
$ 179.0k
Vanessa Washington
Director0.33yrno data0.0018%
$ 64.1k
Matthew Cox
Independent Director5.08yrsUS$179.76k0.0086%
$ 310.5k
Allen Uyeda
Lead Independent Director5.08yrsUS$250.26k0.0078%
$ 282.6k
Jenai Wall
Independent Director2.5yrsUS$174.76k0.0022%
$ 81.5k
Craig Wo
Independent Director2.33yrsUS$176.26k0.020%
$ 730.4k


Average Tenure


Average Age

Experienced Board: FHB's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


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 company bio, 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$3.623b
  • Shares outstanding: 129.91m
  • Website:

Number of Employees


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


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FHBNasdaqGS (Nasdaq Global Select)YesNew Common StockUSUSDAug 2016
1HIDB (Deutsche Boerse AG)YesNew Common StockDEEURAug 2016


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 seg...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/02/26 23:42
End of Day Share Price2021/02/26 00:00
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.