Stephens Upgrades First Hawaiian (NASDAQ:FHB) to “Overweight”

First Hawaiian (NASDAQ:FHB) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm presently has a $33.00 price objective on the bank’s stock. Stephens’ price target points to a potential upside of 20.04% from the company’s previous close.

FHB has been the topic of a number of other reports. JPMorgan Chase & Co. increased their price target on shares of First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. TD Cowen decreased their target price on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Wednesday, July 29th. Barclays increased their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Weiss Ratings reissued a “buy (b)” rating on shares of First Hawaiian in a report on Monday, July 6th. Finally, Wall Street Zen lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Sunday, August 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.25.

First Hawaiian Stock Down 0.3%

FHB stock opened at $27.49 on Thursday. The firm has a market cap of $3.34 billion, a PE ratio of 11.95, a P/E/G ratio of 1.74 and a beta of 0.73. The business has a 50 day moving average of $28.53 and a 200-day moving average of $26.94. First Hawaiian has a 12-month low of $22.65 and a 12-month high of $30.58.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the business posted $0.58 EPS. On average, research analysts expect that First Hawaiian will post 2.34 earnings per share for the current year.

Hedge Funds Weigh In On First Hawaiian

A number of hedge funds have recently modified their holdings of FHB. Eurizon Capital SGR S.p.A. purchased a new stake in First Hawaiian in the fourth quarter worth about $26,000. Elevation Wealth Partners LLC grew its holdings in shares of First Hawaiian by 378.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after acquiring an additional 738 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of First Hawaiian by 2,916.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after acquiring an additional 1,050 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after acquiring an additional 534 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in shares of First Hawaiian in the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

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.