First Hawaiian (NASDAQ:FHB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “First Hawaiian, Inc. offers banking services to consumer and commercial customers which includes deposit products, lending services and wealth management, insurance, private banking and trust services. First Hawaiian Inc. is based in San Francisco, California. “
Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods raised shares of First Hawaiian from a “market perform” rating to an “outperform” rating in a report on Tuesday. ValuEngine raised shares of First Hawaiian from a “hold” rating to a “buy” rating in a report on Friday, December 1st. BidaskClub raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Barclays increased their target price on shares of First Hawaiian from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. cut shares of First Hawaiian from an “overweight” rating to a “neutral” rating and set a $32.00 target price for the company. in a report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. First Hawaiian currently has an average rating of “Hold” and an average price target of $32.38.
First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $134.90 million during the quarter, compared to analysts’ expectations of $135.40 million. First Hawaiian had a net margin of 23.80% and a return on equity of 9.10%. First Hawaiian’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. analysts expect that First Hawaiian will post 1.97 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of FHB. State of Alaska Department of Revenue bought a new position in First Hawaiian in the 4th quarter valued at approximately $137,000. Jane Street Group LLC bought a new position in First Hawaiian in the 3rd quarter valued at approximately $208,000. Aperio Group LLC bought a new position in First Hawaiian in the 3rd quarter valued at approximately $210,000. Cadence Capital Management LLC bought a new position in First Hawaiian in the 3rd quarter valued at approximately $245,000. Finally, Koch Industries Inc. bought a new position in First Hawaiian in the 4th quarter valued at approximately $251,000. 36.30% of the stock is owned by hedge funds and other institutional investors.
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About First Hawaiian
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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