First Hawaiian (NASDAQ:FHB) Upgraded by Wall Street Zen to Hold Rating

First Hawaiian (NASDAQ:FHB) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other research analysts also recently commented on FHB. The Goldman Sachs Group set a $27.50 price target on First Hawaiian and gave the stock a “sell” rating in a research report on Tuesday, January 6th. Barclays raised shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $26.00 to $28.00 in a research report on Tuesday, November 11th. TD Cowen reissued a “hold” rating on shares of First Hawaiian in a report on Monday, February 2nd. Piper Sandler cut their target price on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of First Hawaiian in a research report on Monday, December 29th. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $27.50.

First Hawaiian Trading Down 4.4%

Shares of FHB stock opened at $24.76 on Friday. First Hawaiian has a 1-year low of $20.32 and a 1-year high of $28.35. The stock’s fifty day simple moving average is $26.44 and its 200-day simple moving average is $25.48. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 2.05 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last posted its quarterly 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. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. The business had revenue of $225.85 million for the quarter, compared to the consensus estimate of $225.33 million. During the same period in the prior year, the business posted $0.41 earnings per share. On average, sell-side analysts predict that First Hawaiian will post 1.95 EPS for the current year.

Insider Transactions at First Hawaiian

In related news, insider Alan Arizumi sold 36,460 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.35, for a total transaction of $924,261.00. Following the completion of the sale, the insider directly owned 37,508 shares of the company’s stock, valued at $950,827.80. The trade was a 49.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Craig Scott Wo sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 45,026 shares of company stock worth $1,144,928. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of First Hawaiian

A number of hedge funds have recently modified their holdings of FHB. Vanguard Group Inc. grew its holdings in First Hawaiian by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock valued at $365,777,000 after purchasing an additional 358,632 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of First Hawaiian by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,380,268 shares of the bank’s stock worth $161,423,000 after purchasing an additional 221,492 shares in the last quarter. State Street Corp boosted its position in shares of First Hawaiian by 1.3% during the second quarter. State Street Corp now owns 5,883,194 shares of the bank’s stock worth $146,845,000 after purchasing an additional 77,478 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of First Hawaiian by 68.6% in the 4th quarter. AQR Capital Management LLC now owns 3,720,826 shares of the bank’s stock valued at $94,137,000 after buying an additional 1,514,465 shares during the period. Finally, American Century Companies Inc. increased its position in shares of First Hawaiian by 131.9% in the 3rd quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank’s stock valued at $71,800,000 after buying an additional 1,644,752 shares in the last quarter. 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.