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

First Hawaiian (NASDAQ:FHB) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $27.00 to $29.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 4.15% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Barclays increased their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday. Piper Sandler boosted their target price on First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday. Wells Fargo & Company increased their price target on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Monday. Stephens initiated coverage on First Hawaiian in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised their target price on First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.00.

First Hawaiian Trading Up 0.8 %

FHB traded up $0.23 on Monday, reaching $27.85. The stock had a trading volume of 633,234 shares, compared to its average volume of 815,852. The business’s 50-day moving average price is $26.41 and its two-hundred day moving average price is $25.03. The company has a market cap of $3.56 billion, a P/E ratio of 15.52 and a beta of 0.99. First Hawaiian has a 12-month low of $19.48 and a 12-month high of $28.80.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same period in the previous year, the business posted $0.37 earnings per share. As a group, analysts predict that First Hawaiian will post 1.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FHB. Squarepoint Ops LLC boosted its position in shares of First Hawaiian by 122.9% during the second quarter. Squarepoint Ops LLC now owns 25,432 shares of the bank’s stock worth $528,000 after buying an additional 14,021 shares during the period. Algert Global LLC purchased a new position in First Hawaiian during the 2nd quarter valued at about $267,000. Creative Planning grew its position in First Hawaiian by 10.8% in the 2nd quarter. Creative Planning now owns 22,205 shares of the bank’s stock valued at $461,000 after acquiring an additional 2,156 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in First Hawaiian during the second quarter worth about $462,000. Finally, GAMMA Investing LLC lifted its position in shares of First Hawaiian by 49.1% during the third quarter. GAMMA Investing LLC now owns 3,163 shares of the bank’s stock worth $73,000 after purchasing an additional 1,041 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.