JPMorgan Chase & Co. Forecasts Strong Price Appreciation for First Hawaiian (NASDAQ:FHB) Stock

First Hawaiian (NASDAQ:FHB) had its price target upped by investment analysts at JPMorgan Chase & Co. from $28.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.39% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. TD Cowen reiterated a “hold” rating on shares of First Hawaiian in a research report on Monday. Piper Sandler decreased their target price on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday. The Goldman Sachs Group set a $27.50 price target on shares of First Hawaiian and gave the company a “sell” rating in a report on Tuesday, January 6th. Zacks Research lowered First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of First Hawaiian in a report on Monday, December 29th. Six investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $27.50.

First Hawaiian Trading Down 0.2%

Shares of FHB traded down $0.04 on Monday, reaching $26.51. The company’s stock had a trading volume of 627,961 shares, compared to its average volume of 1,532,962. First Hawaiian has a twelve month low of $20.32 and a twelve month high of $28.35. The stock has a market capitalization of $3.28 billion, a PE ratio of 12.07, a PEG ratio of 1.87 and a beta of 0.73. The firm has a fifty day moving average of $26.15 and a 200-day moving average of $25.26.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $199.68 million for the quarter, compared to the consensus estimate of $225.33 million. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.During the same quarter in the previous year, the business earned $0.41 EPS. As a group, equities 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 the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.34, for a total value of $166,382.44. Following the transaction, the insider directly owned 1,962 shares in the company, valued at approximately $49,717.08. This trade represents a 76.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On First Hawaiian

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in First Hawaiian by 8.6% in the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock worth $4,041,000 after purchasing an additional 13,071 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in First Hawaiian by 9.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock valued at $246,000 after buying an additional 856 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of First Hawaiian during the 1st quarter worth approximately $201,000. Empowered Funds LLC grew its holdings in shares of First Hawaiian by 10.4% in the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock valued at $401,000 after purchasing an additional 1,542 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in First Hawaiian by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock valued at $10,389,000 after purchasing an additional 31,686 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

About First Hawaiian

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.