First Hawaiian (NASDAQ:FHB) Lowered to “Hold” Rating by Zacks Research

First Hawaiian (NASDAQ:FHB) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group lifted their target price on shares of First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, July 7th. Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Wells Fargo & Company increased their price target on First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. Finally, Barclays lifted their price target on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, First Hawaiian presently has an average rating of “Reduce” and an average target price of $30.25.

First Hawaiian Price Performance

FHB opened at $27.66 on Thursday. The company’s 50-day moving average is $28.59 and its 200 day moving average is $26.95. First Hawaiian has a fifty-two week low of $22.65 and a fifty-two week high of $30.58. The firm has a market capitalization of $3.37 billion, a P/E ratio of 12.03, a PEG ratio of 1.76 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share 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 analysts’ expectations of $227.77 million. During the same period in the previous year, the company earned $0.58 earnings per share. On average, equities research analysts expect that First Hawaiian will post 2.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FHB. Eurizon Capital SGR S.p.A. bought a new position in shares of First Hawaiian during the 4th quarter valued at approximately $26,000. Elevation Wealth Partners LLC raised its holdings in shares of First Hawaiian by 378.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after purchasing an additional 738 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings 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 during the period. Global Retirement Partners LLC raised its holdings 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 during the period. Finally, Danske Bank A S purchased a new position in First Hawaiian in the third quarter valued at approximately $47,000. 97.63% of the stock is currently owned by hedge funds and other 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.