First Hawaiian (NASDAQ:FHB) Price Target Lowered to $27.00 at Piper Sandler

First Hawaiian (NASDAQ:FHB) had its target price reduced by equities researchers at Piper Sandler from $28.00 to $27.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective indicates a potential upside of 3.09% from the stock’s current price.

A number of other brokerages also recently commented on FHB. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Hawaiian in a research report on Monday, December 29th. Zacks Research lowered First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Keefe, Bruyette & Woods upped their target price on First Hawaiian from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Tuesday, October 28th. Barclays raised First Hawaiian from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $26.00 to $28.00 in a research note on Tuesday, November 11th. Finally, The Goldman Sachs Group set a $27.50 price objective on shares of First Hawaiian and gave the company a “sell” rating in a research note on Tuesday, January 6th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $27.50.

First Hawaiian Stock Performance

NASDAQ FHB traded down $0.36 on Monday, reaching $26.19. The company’s stock had a trading volume of 187,018 shares, compared to its average volume of 1,513,075. First Hawaiian has a twelve month low of $20.32 and a twelve month high of $28.35. The firm’s 50 day moving average is $26.15 and its two-hundred day moving average is $25.26. The stock has a market cap of $3.24 billion, a PE ratio of 11.90, a PEG ratio of 1.87 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, January 30th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. The business had revenue of $199.68 million for the quarter, compared to the consensus estimate of $225.33 million. During the same period in the previous year, the firm earned $0.41 EPS. Equities research analysts anticipate that First Hawaiian will post 1.95 EPS for the current fiscal year.

Insider Buying and Selling

In other First Hawaiian news, insider Alan Arizumi sold 6,566 shares of First Hawaiian stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.34, for a total transaction of $166,382.44. Following the transaction, the insider owned 1,962 shares of the company’s stock, valued at $49,717.08. The trade was a 76.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Trading of First Hawaiian

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its stake in First Hawaiian by 74.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock valued at $25,000 after buying an additional 438 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of First Hawaiian by 2,916.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,050 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of First Hawaiian by 11,325.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,359 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of First Hawaiian in the fourth quarter worth $46,000. Finally, Danske Bank A S purchased a new stake in shares of First Hawaiian during the third quarter worth $47,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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.