First Hawaiian (FHB) Now Covered by UBS

Equities research analysts at UBS started coverage on shares of First Hawaiian (NASDAQ:FHB) in a report issued on Thursday. The firm set a “neutral” rating and a $31.00 price target on the bank’s stock. UBS’s target price indicates a potential upside of 13.26% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. ValuEngine upgraded First Hawaiian from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded First Hawaiian from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Monday, March 5th. BidaskClub upgraded First Hawaiian from a “hold” rating to a “buy” rating in a research note on Friday, March 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $34.00 price target on shares of First Hawaiian in a research note on Friday, December 22nd. Finally, JPMorgan Chase & Co. cut First Hawaiian from an “overweight” rating to a “neutral” rating and set a $32.00 price target for the company. in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.50.

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Shares of First Hawaiian stock opened at $27.37 on Thursday. First Hawaiian has a 52 week low of $26.30 and a 52 week high of $32.36. The company has a market capitalization of $4,034.47, a P/E ratio of 20.74, a PEG ratio of 2.10 and a beta of 0.48.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. First Hawaiian had a return on equity of 9.10% and a net margin of 23.80%. The business had revenue of $134.90 million during the quarter, compared to analysts’ expectations of $135.40 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. analysts forecast that First Hawaiian will post 1.97 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. grew its holdings in First Hawaiian by 5.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 38,960 shares of the bank’s stock worth $1,137,000 after acquiring an additional 1,864 shares during the period. Sei Investments Co. grew its holdings in First Hawaiian by 1.7% in the third quarter. Sei Investments Co. now owns 163,637 shares of the bank’s stock valued at $4,957,000 after purchasing an additional 2,735 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in First Hawaiian by 12.3% in the third quarter. Russell Investments Group Ltd. now owns 26,168 shares of the bank’s stock valued at $792,000 after purchasing an additional 2,860 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in First Hawaiian by 3.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 108,740 shares of the bank’s stock valued at $3,173,000 after purchasing an additional 3,638 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in First Hawaiian in the fourth quarter valued at $137,000. 36.30% of the stock is currently 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.

Analyst Recommendations for First Hawaiian (NASDAQ:FHB)

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