First Hawaiian (NASDAQ:FHB) Price Target Raised to $31.00

First Hawaiian (NASDAQ:FHB) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $27.00 to $31.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 3.39% from the company’s previous close.

A number of other research firms also recently commented on FHB. Wells Fargo & Company increased their price objective on First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, March 30th. TD Cowen boosted their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Wall Street Zen lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Piper Sandler upped their price objective on shares of First Hawaiian from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $28.31.

First Hawaiian Price Performance

Shares of First Hawaiian stock traded up $0.68 on Wednesday, reaching $29.98. 139,385 shares of the company were exchanged, compared to its average volume of 1,595,409. The stock’s 50 day moving average price is $27.49 and its 200-day moving average price is $26.42. First Hawaiian has a 1-year low of $22.65 and a 1-year high of $29.79. The company has a market cap of $3.65 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 2.15 and a beta of 0.74.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, April 24th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $220.35 million during the quarter, compared to analysts’ expectations of $223.59 million. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. During the same quarter in the previous year, the business posted $0.47 EPS. On average, research analysts predict that First Hawaiian will post 2.33 earnings per share for the current fiscal year.

Institutional Trading of First Hawaiian

Several institutional investors and hedge funds have recently added to or reduced their stakes in FHB. Bank of America Corp DE lifted its position in First Hawaiian by 36.6% during the 1st quarter. Bank of America Corp DE now owns 1,086,157 shares of the bank’s stock worth $26,763,000 after acquiring an additional 291,271 shares during the period. Amundi increased its holdings in shares of First Hawaiian by 14.3% in the first quarter. Amundi now owns 21,568 shares of the bank’s stock valued at $531,000 after purchasing an additional 2,701 shares during the period. California State Teachers Retirement System increased its holdings in shares of First Hawaiian by 37.7% in the first quarter. California State Teachers Retirement System now owns 162,320 shares of the bank’s stock valued at $4,000,000 after purchasing an additional 44,423 shares during the period. Royal Bank of Canada raised its stake in shares of First Hawaiian by 7.3% during the first quarter. Royal Bank of Canada now owns 150,135 shares of the bank’s stock worth $3,700,000 after purchasing an additional 10,173 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of First Hawaiian by 60.3% during the first quarter. Quantinno Capital Management LP now owns 1,798,815 shares of the bank’s stock worth $44,323,000 after purchasing an additional 676,433 shares during 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.