Barclays Issues Positive Forecast for First Hawaiian (NASDAQ:FHB) Stock Price

First Hawaiian (NASDAQ:FHB) had its price objective raised by investment analysts at Barclays from $28.00 to $30.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective points to a potential downside of 1.27% from the stock’s current price.

A number of other brokerages also recently weighed in on FHB. JPMorgan Chase & Co. increased their price target on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. Weiss Ratings raised First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Stephens set a $28.00 target price on First Hawaiian in a research report on Monday, April 27th. Wall Street Zen cut First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group lifted their target price on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, First Hawaiian has an average rating of “Reduce” and a consensus target price of $29.12.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB traded up $0.05 during trading on Tuesday, reaching $30.39. The stock had a trading volume of 425,012 shares, compared to its average volume of 1,612,922. The firm’s fifty day moving average is $27.74 and its 200 day moving average is $26.54. First Hawaiian has a 52 week low of $22.65 and a 52 week high of $30.58. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 2.20 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $220.35 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.47 earnings per share. On average, research analysts forecast that First Hawaiian will post 2.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its position in shares of First Hawaiian by 56.3% during the 2nd quarter. Versant Capital Management Inc now owns 12,972 shares of the bank’s stock worth $380,000 after buying an additional 4,670 shares in the last quarter. Bank of America Corp DE lifted its holdings in First Hawaiian by 36.6% during the first quarter. Bank of America Corp DE now owns 1,086,157 shares of the bank’s stock valued at $26,763,000 after purchasing an additional 291,271 shares during the last quarter. Amundi lifted its stake in shares of First Hawaiian by 14.3% during the 1st quarter. Amundi now owns 21,568 shares of the bank’s stock valued at $531,000 after buying an additional 2,701 shares in the last quarter. California State Teachers Retirement System boosted 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 worth $4,000,000 after acquiring an additional 44,423 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of First Hawaiian by 7.3% during the 1st quarter. Royal Bank of Canada now owns 150,135 shares of the bank’s stock valued at $3,700,000 after purchasing an additional 10,173 shares during the period. Institutional investors and hedge funds 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.