We’ve recently updated our valuation analysis.

First Hawaiian Valuation

Is FHB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FHB?

Other financial metrics that can be useful for relative valuation.

FHB key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio2x

Price to Earnings Ratio vs Peers

How does FHB's PE Ratio compare to its peers?

The above table shows the PE ratio for FHB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average15.1x
IBOC International Bancshares
12.9xn/aUS$3.2b
BOH Bank of Hawaii
14.8x3.7%US$3.3b
CBU Community Bank System
19.5x9.4%US$3.5b
SFNC Simmons First National
13.4x10.7%US$3.0b
FHB First Hawaiian
13.9x7.1%US$3.4b

Price-To-Earnings vs Peers: FHB is good value based on its Price-To-Earnings Ratio (13.9x) compared to the peer average (15.1x).


Price to Earnings Ratio vs Industry

How does FHB's PE Ratio compare vs other companies in the US Banks Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.0%
n/an/an/a

Price-To-Earnings vs Industry: FHB is expensive based on its Price-To-Earnings Ratio (13.9x) compared to the US Banks industry average (10x)


Price to Earnings Ratio vs Fair Ratio

What is FHB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FHB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.9x
Fair PE Ratio11.4x

Price-To-Earnings vs Fair Ratio: FHB is expensive based on its Price-To-Earnings Ratio (13.9x) compared to the estimated Fair Price-To-Earnings Ratio (11.4x).


Share Price vs Fair Value

What is the Fair Price of FHB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FHB ($26.56) is trading below our estimate of fair value ($45.02)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FHB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$26.56
US$26.29
-1.0%
8.3%US$30.00US$22.00n/a7
Nov ’23US$25.47
US$26.14
+2.6%
8.3%US$30.00US$22.00n/a7
Oct ’23US$24.63
US$27.14
+10.2%
10.9%US$34.00US$24.00n/a7
Sep ’23US$25.45
US$27.14
+6.7%
10.9%US$34.00US$24.00n/a7
Aug ’23US$25.83
US$27.14
+5.1%
10.9%US$34.00US$24.00n/a7
Jul ’23US$22.86
US$27.64
+20.9%
10.9%US$34.00US$25.00n/a7
Jun ’23US$25.32
US$28.44
+12.3%
9.5%US$34.00US$25.50n/a8
May ’23US$23.61
US$28.75
+21.8%
8.7%US$34.00US$26.00n/a8
Apr ’23US$27.54
US$30.31
+10.1%
6.8%US$34.00US$28.00n/a8
Mar ’23US$27.42
US$29.56
+7.8%
8.7%US$33.00US$26.00n/a8
Feb ’23US$28.90
US$29.56
+2.3%
8.7%US$33.00US$26.00n/a8
Jan ’23US$27.33
US$29.43
+7.7%
7.5%US$33.00US$27.00n/a7
Dec ’22US$25.76
US$29.71
+15.4%
7.6%US$33.00US$27.00n/a7
Nov ’22US$28.66
US$29.71
+3.7%
7.6%US$33.00US$27.00US$25.477
Oct ’22US$29.61
US$29.29
-1.1%
7.5%US$33.00US$27.00US$24.637
Sep ’22US$27.53
US$29.00
+5.3%
6.9%US$33.00US$27.00US$25.458
Aug ’22US$27.53
US$29.00
+5.3%
6.9%US$33.00US$27.00US$25.838
Jul ’22US$29.30
US$28.94
-1.2%
6.7%US$33.00US$26.50US$22.868
Jun ’22US$28.67
US$28.19
-1.7%
10.1%US$33.00US$23.00US$25.328
May ’22US$27.46
US$27.44
-0.08%
12.8%US$33.00US$22.00US$23.618
Apr ’22US$27.68
US$26.31
-4.9%
16.4%US$33.00US$18.00US$27.548
Mar ’22US$28.83
US$24.44
-15.2%
13.4%US$28.00US$18.00US$27.428
Feb ’22US$23.83
US$24.44
+2.5%
13.4%US$28.00US$18.00US$28.908
Jan ’22US$23.58
US$20.63
-12.5%
21.9%US$25.00US$13.00US$27.338
Dec ’21US$22.35
US$19.06
-14.7%
22.0%US$25.00US$13.00US$25.768
Nov ’21US$17.26
US$18.19
+5.4%
20.9%US$23.00US$13.00US$28.668

Analyst Forecast: Target price is lower than the current share price.


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