First Hawaiian (NASDAQ:FHB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The firm currently has a $30.00 target price on the bank’s stock. Zacks Investment Research’s target price would indicate a potential upside of 11.07% from the stock’s current price.
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. “
Separately, Bank of America cut First Hawaiian from a “neutral” rating to an “underperform” rating and set a $33.00 price objective for the company. in a research report on Friday, October 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, First Hawaiian presently has an average rating of “Hold” and a consensus price target of $29.75.
NASDAQ:FHB traded up $0.10 on Monday, reaching $27.01. The company’s stock had a trading volume of 348,539 shares, compared to its average volume of 659,881. First Hawaiian has a 1-year low of $22.57 and a 1-year high of $30.80. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.25 and a beta of 1.19. The stock’s 50-day moving average price is $27.68.
First Hawaiian (NASDAQ:FHB) last posted its earnings results on Thursday, October 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. First Hawaiian had a return on equity of 10.17% and a net margin of 36.22%. The firm had revenue of $182.70 million during the quarter, compared to analysts’ expectations of $132.45 million. During the same period in the previous year, the firm earned $0.50 earnings per share. Equities research analysts expect that First Hawaiian will post 2.1 earnings per share for the current year.
In other First Hawaiian news, CFO Ravi Mallela sold 2,193 shares of the company’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $28.73, for a total value of $63,004.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.64% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of FHB. Metropolitan Life Insurance Co NY lifted its holdings in shares of First Hawaiian by 21.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 3,192 shares of the bank’s stock worth $83,000 after buying an additional 564 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of First Hawaiian during the second quarter worth $221,000. Brinker Capital Investments LLC lifted its holdings in shares of First Hawaiian by 10.3% during the second quarter. Brinker Capital Investments LLC now owns 49,561 shares of the bank’s stock worth $1,405,000 after buying an additional 4,616 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of First Hawaiian by 6.1% during the second quarter. GSA Capital Partners LLP now owns 10,500 shares of the bank’s stock worth $298,000 after buying an additional 606 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of First Hawaiian by 17.6% during the second quarter. Teacher Retirement System of Texas now owns 17,130 shares of the bank’s stock worth $485,000 after buying an additional 2,562 shares in the last quarter. 98.31% of the stock is owned by institutional investors.
About First Hawaiian
First Hawaiian, Inc is a bank holding company, which engages in the provision of banking services to consumer and commercial customers, including deposit products, lending services, and wealth management and trust services through its subsidiary First Hawaiian Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Treasury and Other.