Wells Fargo & Company Forecasts Strong Price Appreciation for First Hawaiian (NASDAQ:FHB) Stock

First Hawaiian (NASDAQ:FHB) had its target price upped by research analysts at Wells Fargo & Company from $21.00 to $22.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 18.82% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group upped their target price on First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a report on Tuesday, November 26th. Stephens started coverage on First Hawaiian in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price objective on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, First Hawaiian currently has an average rating of “Hold” and an average target price of $25.86.

First Hawaiian Stock Performance

NASDAQ:FHB opened at $27.10 on Tuesday. The firm has a market cap of $3.47 billion, a PE ratio of 15.49 and a beta of 0.98. First Hawaiian has a fifty-two week low of $19.48 and a fifty-two week high of $28.80. The business has a 50 day moving average price of $25.31 and a 200-day moving average price of $23.40.

Institutional Investors Weigh In On First Hawaiian

Institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC lifted its position in First Hawaiian by 20.8% during the third quarter. Sanctuary Advisors LLC now owns 25,476 shares of the bank’s stock valued at $590,000 after purchasing an additional 4,383 shares during the period. SkyView Investment Advisors LLC raised its stake in First Hawaiian by 2.7% during the 3rd quarter. SkyView Investment Advisors LLC now owns 38,545 shares of the bank’s stock valued at $892,000 after buying an additional 999 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of First Hawaiian by 9.9% during the 3rd quarter. M&T Bank Corp now owns 16,252 shares of the bank’s stock valued at $376,000 after buying an additional 1,461 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of First Hawaiian in the 3rd quarter worth $632,000. Finally, Jane Street Group LLC grew its holdings in shares of First Hawaiian by 91.4% in the third quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock worth $4,077,000 after acquiring an additional 84,120 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

About First Hawaiian

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 three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.