First Hawaiian (NASDAQ:FHB) Shares Gap Up on Strong Earnings

First Hawaiian, Inc. (NASDAQ:FHB)’s stock price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $26.79, but opened at $27.81. First Hawaiian shares last traded at $27.58, with a volume of 37,235 shares traded.

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 net margin of 18.83% and a return on equity of 8.83%. During the same period last year, the business posted $0.37 earnings per share.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FHB shares. Barclays upped their price objective on shares of First Hawaiian from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their price target on First Hawaiian from $25.00 to $27.00 and gave the company an “underweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group lifted their price objective on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their price objective on shares of First Hawaiian from $21.00 to $22.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods raised their target price on First Hawaiian from $25.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.86.

Hedge Funds Weigh In On First Hawaiian

Several institutional investors have recently made changes to their positions in FHB. CKW Financial Group increased its holdings in First Hawaiian by 1.2% in the 4th quarter. CKW Financial Group now owns 32,600 shares of the bank’s stock worth $846,000 after acquiring an additional 400 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of First Hawaiian by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 3,624 shares of the bank’s stock valued at $94,000 after buying an additional 461 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in First Hawaiian by 5.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank’s stock worth $237,000 after buying an additional 488 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of First Hawaiian by 5.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 11,296 shares of the bank’s stock valued at $262,000 after acquiring an additional 569 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of First Hawaiian by 51.5% during the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock worth $43,000 after purchasing an additional 625 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Trading Up 2.9 %

The company has a market cap of $3.53 billion, a P/E ratio of 15.75 and a beta of 0.99. The firm has a 50 day moving average of $26.42 and a 200-day moving average of $25.00.

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.