First Hawaiian Inc (NYSE:FHB) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Wednesday.
Other equities analysts have also issued reports about the stock. Bank of America Corporation restated a “neutral” rating and issued a $34.00 price objective (down from $37.00) on shares of First Hawaiian in a report on Thursday, June 22nd. UBS AG restated a “neutral” rating and issued a $29.00 price objective (down from $30.00) on shares of First Hawaiian in a report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $32.83.
First Hawaiian (NYSE FHB) opened at 28.04 on Wednesday. The stock has a 50 day moving average price of $27.36 and a 200 day moving average price of $31.19. The company has a market capitalization of $3.91 billion and a price-to-earnings ratio of 17.52. First Hawaiian has a 12-month low of $25.02 and a 12-month high of $35.47.
First Hawaiian (NYSE:FHB) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. First Hawaiian had a net margin of 31.59% and a return on equity of 9.02%. The company had revenue of $131.30 million during the quarter, compared to analyst estimates of $134.58 million. First Hawaiian’s revenue was up 1.5% on a year-over-year basis. On average, analysts expect that First Hawaiian will post $1.66 EPS for the current year.
A number of large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its position in First Hawaiian by 60.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 38,818 shares of the bank’s stock worth $1,189,000 after purchasing an additional 14,698 shares during the period. Koch Industries Inc. bought a new stake in First Hawaiian in the 2nd quarter worth approximately $240,000. Susquehanna International Group LLP bought a new stake in First Hawaiian in the 2nd quarter worth approximately $390,000. California State Teachers Retirement System grew its position in First Hawaiian by 97.0% in the 2nd quarter. California State Teachers Retirement System now owns 97,913 shares of the bank’s stock worth $2,998,000 after purchasing an additional 48,213 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in First Hawaiian by 2.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,036,035 shares of the bank’s stock worth $31,723,000 after purchasing an additional 21,571 shares during the period.
First Hawaiian Company Profile
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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