First Hawaiian, Inc. (FHB)
Financial Services · NMS · US
Fundamentals
Valuation and ratings
First Hawaiian, Inc. trades at USD29.72, which is 113% below the USD63.25 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 43 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 12.5 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About First Hawaiian, Inc.
First Hawaiian, Inc. operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in two segments: Retail Banking and Commercial Banking. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts. It also provides residential and commercial mortgage loans, home equity lines of credit and loans, automobile loans and leases, secured and unsecured lines of credit, installment loans, small business loans and leases, as well as commercial lease and auto dealer financing services. In addition, the company offers wealth management, personal installment, individual investment and financial planning, insurance protection, trust and estate, private banking, investment management, retirement planning, and credit card and merchant processing services, as well as consumer and commercial credit cards processing services. Further, the company provides commercial and industrial lending, such as auto dealer flooring, commercial real estate lending, and construction lending services. It offers its products through branch, online, and mobile distribution channels. The company was formerly known as BancWest Corporation and changed its name to First Hawaiian, Inc. in April 2016. First Hawaiian, Inc. was founded in 1858 and is headquartered in Honolulu, Hawaii.
FHB passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
10 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$91.64M · 0.0% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$41.51M · 0.0% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$40.54M · 0.0% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$37.76M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$6.13M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is First Hawaiian, Inc. (FHB) undervalued?
Against our discounted cash flow estimate of USD63.25, FHB at USD29.72 is 113% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own FHB?
10 of the institutions we track reported a position in FHB in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is FHB's P/E ratio?
FHB trades at 12.5 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for FHB, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.