Stock Analysis Report

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.

Snowflake Analysis

Flawless balance sheet, undervalued and pays a dividend.

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's share price has been volatile over the past 3 months.

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 -26.9% over the past year.

Return vs Market: FHB underperformed the US Market which returned -12.7% over the past year.

Shareholder returns

7 Day4.4%16.8%12.5%
30 Day-31.6%-24.7%-14.7%
90 Day-43.3%-38.6%-21.5%
1 Year-35.8%-38.2%-24.8%-26.9%-10.9%-12.7%
3 Year-38.3%-44.5%-16.9%-23.0%12.6%5.4%
5 Yearn/a12.0%-0.7%31.9%17.5%

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 ($16.37) is trading below our estimate of fair value ($36.05)

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

Price To Earnings Ratio

PE vs Industry: FHB is good value based on its PE Ratio (7.7x) compared to the Banks industry average (8.8x).

PE vs Market: FHB is good value based on its PE Ratio (7.7x) compared to the US market (13x).

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 good value based on its PB Ratio (0.8x) compared to the US Banks industry average (0.8x).

Next Steps

Future Growth

How is First Hawaiian forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?


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 (-8.6% per year).

Earnings vs Market: FHB's earnings are forecast to decline over the next 3 years (-8.6% 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 (-12.8% per year).

High Growth Revenue: FHB's revenue is forecast to decline over the next 3 years (-12.8% 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 (9.4%).

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 (37.8%) are higher than last year (36.6%).

Past Earnings Growth Analysis

Earnings Trend: FHB's earnings have grown by 5.2% per year over the past 5 years.

Accelerating Growth: FHB's earnings growth over the past year (7.6%) exceeds its 5-year average (5.2% per year).

Earnings vs Industry: FHB earnings growth over the past year (7.6%) underperformed the Banks industry 11%.

Return on Equity

High ROE: FHB's Return on Equity (10.8%) 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

Inventory Level: FHB has a low level of unsold assets or inventory.

Debt Coverage by Assets: FHB's debt is covered by short term assets (assets are 1.3x debt).

Financial Institutions Analysis

Asset Level: FHB's level of assets compared to its equity is low.

Allowance for Bad Loans: FHB has a sufficient allowance for bad loans.

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

Loan Level: FHB has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FHB's loans are broadly funded by customer deposits.

Level of Bad Loans: FHB has an appropriate level of bad loans (0.04%)

Next Steps


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


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: FHB's dividend (6.35%) is higher than the bottom 25% of dividend payers in the US market (1.98%).

High Dividend: FHB's dividend (6.35%) is in the top 25% of dividend payers in the US market (5.49%)

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 3 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (48.7%), 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 (53.6% payout ratio).

Next Steps


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


Average management tenure


Bob Harrison (59yo)





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 ($USD6.01M) is above average for companies of similar size in the US market ($USD4.58M).

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

Leadership Team

Robert Harrison
Chairman8.17yrsUS$6.01m0.12% $2.5m
Ravi Mallela
Executive VP & CFO1.5yrsUS$1.58m0.025% $540.9k
Alan Arizumi
Vice Chairman of Wealth Management Group6.17yrsUS$1.21m0.023% $486.5k
Ralph Mesick
Vice Chairman & Chief Risk Officer3.67yrsUS$909.94k0.025% $532.8k
Lance Mizumoto
Vice Chairman & Chief Lending Officerno dataUS$1.12m0.0099% $211.0k
Kevin Haseyama
Strategic Planning & Investor Relations Managerno datano datano data
Gina O. Anonuevo
Executive VP & Chief Compliance Officerno datano datano data
Joel Rappoport
Executive VP3.17yrsno datano data
Iris Matsumoto
Executive Vice President of Human Resources Divisionno datano datano data
Christopher Dods
Executive Vice President of Digital Banking & Marketing Group4.17yrsno datano data


Average Tenure


Average Age

Experienced Management: FHB's management team is considered experienced (3.9 years average tenure).

Board Members

Robert Harrison
Chairman8.17yrsUS$6.01m0.12% $2.5m
Wilton Doane
Independent Director4.17yrsUS$204.26k0.035% $755.2k
Faye Kurren
Independent Director1.58yrsUS$178.26k0.0049% $105.0k
Matthew Cox
Independent Director4.17yrsUS$179.76k0.0085% $182.2k
Allen Uyeda
Lead Independent Director4.17yrsUS$250.26k0.0078% $165.8k
Jenai Wall
Independent Director1.58yrsUS$174.76k0.0022% $47.8k
Craig Wo
Independent Director1.42yrsUS$176.26k0.020% $428.7k


Average Tenure


Average Age

Experienced Board: FHB's board of directors are not considered experienced ( 2.9 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: FHB insiders have only sold shares 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$2.134b
  • Shares outstanding: 130.35m
  • 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
1HIBRSE (Berne Stock Exchange)YesNew Common StockCHCHFAug 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 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. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/30 04:13
End of Day Share Price2020/03/27 00:00
Annual Earnings2019/12/31

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.