Wall Street Zen Upgrades First Hawaiian (NASDAQ:FHB) to “Hold”

First Hawaiian (NASDAQ:FHB) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday, Wall Street Zen reports.

A number of other equities analysts also recently weighed in on the stock. Piper Sandler boosted their target price on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. TD Cowen decreased their price target on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Wednesday, July 29th. The Goldman Sachs Group raised their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a report on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. Finally, Benchmark restated a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, First Hawaiian has an average rating of “Reduce” and a consensus target price of $30.25.

First Hawaiian Stock Performance

Shares of FHB stock opened at $24.96 on Friday. First Hawaiian has a 52 week low of $22.65 and a 52 week high of $30.58. The stock has a market capitalization of $3.04 billion, a PE ratio of 10.85, a PEG ratio of 1.57 and a beta of 0.72. The stock’s fifty day moving average is $26.64 and its 200-day moving average is $26.91.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The business had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. During the same quarter in the prior year, the company earned $0.58 EPS. As a group, analysts forecast that First Hawaiian will post 2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in First Hawaiian in the second quarter valued at approximately $483,971,000. The Manufacturers Life Insurance Company bought a new position in First Hawaiian in the second quarter valued at approximately $62,568,000. Bank of America Corp DE acquired a new stake in First Hawaiian during the 2nd quarter worth $53,105,000. Norges Bank acquired a new stake in First Hawaiian during the 4th quarter worth $40,281,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of First Hawaiian during the 2nd quarter valued at $32,977,000. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Company Profile

First Hawaiian, Inc (NASDAQ: FHB) is the holding company for First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858 as Bishop & Company, First Hawaiian Bank is the oldest bank in Hawaii and provides banking and financial services to consumers, businesses and government organizations.

The bank offers deposit accounts, residential and commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.