First Hawaiian (NASDAQ:FHB) Price Target Cut to $20.00

First Hawaiian (NASDAQ:FHB) had its target price decreased by equities researchers at Wells Fargo & Company from $22.00 to $20.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the bank’s stock. Wells Fargo & Company‘s price target points to a potential downside of 11.27% from the stock’s previous close.

Several other research firms have also issued reports on FHB. JPMorgan Chase & Co. lowered First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price target on the stock. in a research report on Monday, July 29th. Barclays boosted their target price on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. The Goldman Sachs Group upped their target price on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a report on Monday, July 29th. Piper Sandler lifted their price target on shares of First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, First Hawaiian currently has a consensus rating of “Reduce” and an average target price of $24.33.

First Hawaiian Trading Down 2.6 %

Shares of First Hawaiian stock traded down $0.61 on Tuesday, reaching $22.54. The stock had a trading volume of 560,368 shares, compared to its average volume of 665,957. The company has a market cap of $2.88 billion, a P/E ratio of 12.98 and a beta of 0.98. First Hawaiian has a 1 year low of $17.18 and a 1 year high of $26.18. The business’s 50 day moving average is $23.70 and its two-hundred day moving average is $22.12.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, July 26th. The bank reported $0.48 EPS for the quarter, beating the consensus estimate of $0.42 by $0.06. The firm had revenue of $204.62 million for the quarter, compared to analyst estimates of $202.94 million. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. On average, equities analysts anticipate that First Hawaiian will post 1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On First Hawaiian

Several hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. boosted its stake in First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after purchasing an additional 507 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of First Hawaiian by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 56,400 shares of the bank’s stock worth $1,289,000 after buying an additional 550 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of First Hawaiian by 8.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank’s stock valued at $163,000 after buying an additional 550 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in shares of First Hawaiian by 32.5% during the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock valued at $55,000 after acquiring an additional 644 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in First Hawaiian by 1.8% in the 2nd quarter. SkyView Investment Advisors LLC now owns 37,546 shares of the bank’s stock worth $779,000 after acquiring an additional 652 shares during the last quarter. 97.63% of the stock is owned by institutional investors.

First Hawaiian Company Profile

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.