First Hawaiian (NASDAQ:FHB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

First Hawaiian (NASDAQ:FHB) had its price target raised by stock analysts at JPMorgan Chase & Co. from $27.00 to $29.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 11.35% from the company’s current price.

Several other brokerages have also weighed in on FHB. Keefe, Bruyette & Woods increased their target price on First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 28th. Zacks Research upgraded First Hawaiian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. TD Cowen initiated coverage on shares of First Hawaiian in a research note on Thursday, September 25th. They set a “hold” rating and a $27.00 price objective for the company. Piper Sandler raised their target price on shares of First Hawaiian from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Hawaiian in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, First Hawaiian has an average rating of “Hold” and a consensus target price of $27.71.

First Hawaiian Stock Down 0.1%

FHB traded down $0.02 on Tuesday, hitting $26.05. 124,835 shares of the company traded hands, compared to its average volume of 986,908. The company has a 50 day moving average of $24.63 and a 200-day moving average of $24.82. First Hawaiian has a 12-month low of $20.32 and a 12-month high of $28.28. The stock has a market capitalization of $3.22 billion, a PE ratio of 12.71, a PEG ratio of 1.66 and a beta of 0.74.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Monday, August 9th. The bank reported $0.44 earnings per share (EPS) for the quarter. The firm had revenue of $129.16 million during the quarter. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%. On average, research analysts anticipate that First Hawaiian will post 1.95 EPS for the current year.

Insider Activity at First Hawaiian

In other news, insider Alan Arizumi sold 6,566 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $25.34, for a total value of $166,382.44. Following the transaction, the insider owned 1,962 shares of the company’s stock, valued at $49,717.08. This represents a 76.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FHB. Bank of Montreal Can increased its position in First Hawaiian by 1.7% during the 2nd quarter. Bank of Montreal Can now owns 25,258 shares of the bank’s stock worth $630,000 after purchasing an additional 422 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of First Hawaiian by 74.9% during the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock worth $25,000 after buying an additional 438 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of First Hawaiian by 2.9% during the first quarter. Voya Investment Management LLC now owns 15,918 shares of the bank’s stock worth $389,000 after buying an additional 448 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of First Hawaiian by 5.5% during the third quarter. PNC Financial Services Group Inc. now owns 10,941 shares of the bank’s stock worth $272,000 after buying an additional 567 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in shares of First Hawaiian by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 37,109 shares of the bank’s stock worth $926,000 after buying an additional 616 shares in the last quarter. 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.