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Deutsche Sees First Hawaiian Trading At An Appropriate Premium, Initiates At Hold

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Deutsche Bank initiated coverage on First Hawaiian Inc (NASDAQ: FHB) with a Hold rating and $29 price target.

The analysts estimate a core EPS of $1.53/$1.61/$1.75 for FY16/17/18. They view the company as a high quality franchise priced at an appropriate premium, with a more balanced risk/reward following the 16 percent upside post IPO.

"That said, we still expect a 12 percent return over the next year (including the 3 percent dividend yield)," wrote the analysts, noting they expect First Hawaiian could outperform in a downturn given the bank's higher ROTCE and stronger credit profile.

Shares are trading at 16.5x their FY17 core EPS estimate and a P/TBV of 2.46x.

Latest Ratings for FHB

DateFirmActionFromTo
Oct 2018MaintainsNeutralNeutral
May 2018UpgradesNeutralBuy
May 2018UpgradesHoldBuy

View More Analyst Ratings for FHB
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Initiation Analyst Ratings

 

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