JPMorgan Chase & Co. Has Lowered Expectations for First Hawaiian (NASDAQ:FHB) Stock Price

First Hawaiian (NASDAQ:FHB) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $29.00 to $28.00 in a report released on Monday, Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 9.65% from the company’s previous close.

Several other research analysts also recently issued reports on FHB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Hawaiian in a research note on Friday, October 2nd. TD Cowen lowered their price objective on shares of First Hawaiian from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 5th. 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 report on Monday. Stephens upgraded shares of First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group upped their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, First Hawaiian has an average rating of “Hold” and an average price target of $29.00.

First Hawaiian Price Performance

Shares of NASDAQ FHB traded up $0.20 during trading on Monday, hitting $25.54. 818,053 shares of the company were exchanged, compared to its average volume of 1,869,003. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.31 and a beta of 0.76. First Hawaiian has a 1 year low of $23.26 and a 1 year high of $30.58. The firm’s fifty day moving average price is $25.51 and its 200 day moving average price is $26.99.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, October 23rd. The bank reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.07). The company had revenue of $230.23 million for the quarter, compared to analyst estimates of $229.20 million. First Hawaiian had a return on equity of 9.83% and a net margin of 23.73%. During the same period last year, the company earned $0.59 earnings per share. On average, research analysts forecast that First Hawaiian will post 2.39 earnings per share for the current year.

Institutional Trading of First Hawaiian

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Elevation Wealth Partners LLC boosted its stake in shares of First Hawaiian by 378.5% during the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock valued at $27,000 after acquiring an additional 738 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in First Hawaiian during the 2nd quarter worth about $30,000. Pension & Wealth Management Advisors Inc. acquired a new position in First Hawaiian in the 3rd quarter valued at about $30,000. Root Financial Partners LLC acquired a new position in First Hawaiian in the 3rd quarter valued at about $31,000. Finally, Global Retirement Partners LLC acquired a new position in First Hawaiian in the 2nd quarter valued at about $51,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

About First Hawaiian

First Hawaiian, Inc is the parent company of First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858, First Hawaiian Bank is the oldest bank in Hawaii and serves consumers, businesses, and government entities across the Pacific.

The bank provides a broad range of financial products and services, including checking and savings accounts, consumer and residential loans, commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.