Barclays Raises First Hawaiian (NASDAQ:FHB) Price Target to $30.00

First Hawaiian (NASDAQ:FHB) had its target price hoisted by equities researchers at Barclays from $28.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective indicates a potential upside of 8.30% from the company’s current price.

FHB has been the topic of several other research reports. The Goldman Sachs Group lifted their target price on shares of First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price target on First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday. Piper Sandler upped their price objective on First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. lifted their target price on First Hawaiian from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company increased their price target on shares of First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Monday. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, First Hawaiian presently has a consensus rating of “Hold” and an average target price of $29.00.

First Hawaiian Stock Performance

Shares of First Hawaiian stock opened at $27.70 on Monday. The stock has a market capitalization of $3.54 billion, a PE ratio of 15.47 and a beta of 0.99. First Hawaiian has a 52 week low of $19.48 and a 52 week high of $28.80. The stock has a 50 day moving average price of $26.40 and a two-hundred day moving average price of $25.06.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same period last year, the business earned $0.37 EPS. Research analysts forecast that First Hawaiian will post 1.74 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in First Hawaiian by 1.2% during the third quarter. Wellington Management Group LLP now owns 686,701 shares of the bank’s stock valued at $15,897,000 after acquiring an additional 7,926 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of First Hawaiian during the 3rd quarter valued at $632,000. Jane Street Group LLC grew its holdings in shares of First Hawaiian by 91.4% during the 3rd quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock valued at $4,077,000 after purchasing an additional 84,120 shares during the last quarter. FMR LLC raised its position in First Hawaiian by 20.3% in the 3rd quarter. FMR LLC now owns 913,400 shares of the bank’s stock worth $21,145,000 after purchasing an additional 154,136 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in First Hawaiian by 78.7% in the third quarter. BNP Paribas Financial Markets now owns 26,352 shares of the bank’s stock worth $610,000 after purchasing an additional 11,604 shares during the last quarter. 97.63% of the stock is currently 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.