First Hawaiian (NASDAQ:FHB) Rating Increased to Overweight at Stephens

First Hawaiian (NASDAQ:FHB) was upgraded by investment analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report issued on Thursday, Marketbeat Ratings reports. The firm currently has a $33.00 price target on the bank’s stock. Stephens’ price target would indicate a potential upside of 18.83% from the company’s current price.

FHB has been the topic of several other reports. Piper Sandler boosted their price objective on First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Wall Street Zen downgraded First Hawaiian from a “hold” rating to a “sell” rating in a research report on Sunday. Zacks Research upgraded shares of First Hawaiian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th. Finally, Barclays increased their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, First Hawaiian currently has an average rating of “Hold” and a consensus target price of $30.25.

First Hawaiian Stock Performance

NASDAQ FHB opened at $27.77 on Thursday. The stock has a 50 day moving average price of $28.51 and a 200-day moving average price of $26.93. First Hawaiian has a one year low of $22.65 and a one year high of $30.58. The company has a market capitalization of $3.38 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.78 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (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 for the quarter, compared to the consensus estimate of $227.77 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. As a group, equities analysts predict that First Hawaiian will post 2.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of First Hawaiian by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock worth $365,777,000 after acquiring an additional 358,632 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of First Hawaiian by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,693,630 shares of the bank’s stock worth $164,927,000 after buying an additional 313,362 shares in the last quarter. State Street Corp grew its holdings 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 buying an additional 77,478 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of First Hawaiian by 68.6% in the fourth quarter. AQR Capital Management LLC now owns 3,720,826 shares of the bank’s stock worth $94,137,000 after buying an additional 1,514,465 shares in the last quarter. Finally, Reinhart Partners LLC. grew its stake in First Hawaiian by 0.7% during the 2nd quarter. Reinhart Partners LLC. now owns 2,660,876 shares of the bank’s stock valued at $77,964,000 after acquiring an additional 18,977 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

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.