First Hawaiian (NASDAQ:FHB) Price Target Raised to $24.00 at Wells Fargo & Company

First Hawaiian (NASDAQ:FHB) had its price objective boosted by stock analysts at Wells Fargo & Company from $22.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 13.45% from the company’s current price.

Several other research analysts have also issued reports on FHB. The Goldman Sachs Group increased their target price on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. increased their target price on First Hawaiian from $25.00 to $27.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods increased their target price on First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday. Stephens started coverage on First Hawaiian in a research report on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 target price for the company. Finally, Barclays raised their price objective on First Hawaiian from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.57.

First Hawaiian Stock Performance

FHB stock traded up $0.11 during trading on Monday, hitting $27.73. 169,737 shares of the company traded hands, compared to its average volume of 793,122. The company has a 50-day moving average of $26.41 and a 200-day moving average of $25.03. The firm has a market capitalization of $3.55 billion, a PE ratio of 15.52 and a beta of 0.99. First Hawaiian has a 1 year low of $19.48 and a 1 year high of $28.80.

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

Institutional Trading of First Hawaiian

Several institutional investors have recently added to or reduced their stakes in FHB. Blue Trust Inc. boosted its stake in First Hawaiian by 51.5% during the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock valued at $43,000 after purchasing an additional 625 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in First Hawaiian during the 3rd quarter valued at $51,000. Quarry LP boosted its stake in First Hawaiian by 459.2% during the 3rd quarter. Quarry LP now owns 2,483 shares of the bank’s stock valued at $57,000 after purchasing an additional 2,039 shares during the last quarter. GAMMA Investing LLC boosted its stake in First Hawaiian by 49.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,163 shares of the bank’s stock valued at $73,000 after purchasing an additional 1,041 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in First Hawaiian by 32.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock valued at $74,000 after purchasing an additional 693 shares during the last quarter. 97.63% of the stock is currently owned by hedge funds and other 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.