First Hawaiian (NASDAQ:FHB) Stock Rating Upgraded by Zacks Research

First Hawaiian (NASDAQ:FHB) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group increased their price objective on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research note on Tuesday, July 7th. Wall Street Zen downgraded First Hawaiian from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Wells Fargo & Company lifted their price objective on First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, July 6th. JPMorgan Chase & Co. increased their target price on shares of First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. Finally, Piper Sandler raised their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, First Hawaiian has an average rating of “Hold” and a consensus price target of $29.25.

First Hawaiian Price Performance

Shares of FHB opened at $29.72 on Wednesday. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.57 and a beta of 0.72. First Hawaiian has a 1-year low of $22.65 and a 1-year high of $30.58. The company has a 50-day moving average of $28.11 and a 200 day moving average of $26.72.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, April 24th. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $220.35 million for the quarter, compared to the consensus estimate of $223.59 million. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. During the same period in the prior year, the firm earned $0.47 EPS. On average, equities analysts anticipate that First Hawaiian will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of First Hawaiian

Institutional investors have recently modified their holdings of the company. Eurizon Capital SGR S.p.A. bought a new position in shares of First Hawaiian during the 4th quarter worth approximately $26,000. Elevation Wealth Partners LLC boosted its stake in First Hawaiian by 378.5% in the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock valued at $27,000 after acquiring an additional 738 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Hawaiian by 2,916.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after purchasing an additional 1,050 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in First Hawaiian during the 4th quarter worth $46,000. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.