First Hawaiian (NASDAQ:FHB – Get Free Report) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Thursday, Briefing.com reports. The brokerage presently has a $29.00 price target on the bank’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 17.79% from the company’s current price.
Several other analysts have also recently issued reports on FHB. Benchmark reissued a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. Barclays boosted their target price on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Stephens raised First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price target for the company in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group lifted their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, First Hawaiian has a consensus rating of “Hold” and an average price target of $29.75.
First Hawaiian Stock Performance
First Hawaiian (NASDAQ:FHB – Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The company had revenue of $231.27 million during the quarter, compared to analyst estimates of $227.77 million. During the same period in the prior year, the business posted $0.58 EPS. Research analysts predict that First Hawaiian will post 2.37 EPS for the current year.
Hedge Funds Weigh In On First Hawaiian
Several institutional investors and hedge funds have recently added to or reduced their stakes in FHB. Anchor Investment Management LLC purchased a new stake in shares of First Hawaiian in the 2nd quarter worth about $30,000. Integrated Wealth Concepts LLC lifted its position in First Hawaiian by 10.9% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 18,092 shares of the bank’s stock valued at $530,000 after acquiring an additional 1,773 shares during the period. NewEdge Advisors LLC bought a new stake in First Hawaiian during the second quarter worth about $252,000. IFP Advisors Inc grew its holdings in First Hawaiian by 17.9% in the second quarter. IFP Advisors Inc now owns 3,231 shares of the bank’s stock worth $95,000 after purchasing an additional 491 shares during the period. Finally, Allworth Financial LP grew its holdings in First Hawaiian by 150.3% in the second quarter. Allworth Financial LP now owns 7,504 shares of the bank’s stock worth $220,000 after purchasing an additional 4,506 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.
About First Hawaiian
First Hawaiian, Inc is a bank holding company headquartered in Honolulu, Hawaii, and the parent company of First Hawaiian Bank. Founded in 1858, First Hawaiian Bank is one of the oldest financial institutions in Hawaii and provides banking services to consumers, businesses, and government and institutional customers.
First Hawaiian Bank offers a range of financial products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, credit cards, treasury management, online and mobile banking, and wealth management services.
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