First Hawaiian (NASDAQ:FHB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

First Hawaiian (NASDAQ:FHB) had its target price lifted by analysts at JPMorgan Chase & Co. from $27.00 to $29.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 4.69% from the stock’s current price.

Several other equities research analysts have also weighed in on FHB. The Goldman Sachs Group increased their target price on First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a research report on Monday. Piper Sandler increased their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday. Stephens assumed coverage on shares of First Hawaiian in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 target price for the company. Keefe, Bruyette & Woods raised their price target on shares of First Hawaiian from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Wells Fargo & Company boosted their price objective on First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Monday. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.00.

First Hawaiian Stock Performance

First Hawaiian stock opened at $27.70 on Monday. First Hawaiian has a 1 year low of $19.48 and a 1 year high of $28.80. The firm’s 50-day moving average is $26.40 and its 200-day moving average is $25.06. The company has a market cap of $3.54 billion, a P/E ratio of 15.47 and a beta of 0.99.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, topping 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 in the previous year, the company earned $0.37 EPS. As a group, sell-side analysts predict that First Hawaiian will post 1.74 earnings per share for the current year.

Institutional Trading of First Hawaiian

Several institutional investors have recently modified their holdings of FHB. The Manufacturers Life Insurance Company grew its holdings in First Hawaiian by 1.2% during the third quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock worth $245,963,000 after acquiring an additional 122,599 shares during the period. Reinhart Partners LLC. grew its stake in shares of First Hawaiian by 6.1% in the 3rd quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock worth $56,980,000 after purchasing an additional 141,327 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of First Hawaiian by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,661,154 shares of the bank’s stock worth $38,456,000 after purchasing an additional 11,543 shares in the last quarter. Raymond James & Associates lifted its stake in First Hawaiian by 6.7% during the third quarter. Raymond James & Associates now owns 1,152,785 shares of the bank’s stock valued at $26,687,000 after purchasing an additional 72,816 shares during the last quarter. Finally, FMR LLC boosted its holdings in First Hawaiian by 20.3% during the third quarter. FMR LLC now owns 913,400 shares of the bank’s stock worth $21,145,000 after buying an additional 154,136 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

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.