Goldman Sachs Group Lowers First Hawaiian (FHB) to Sell

Goldman Sachs Group lowered shares of First Hawaiian (NASDAQ:FHB) from a neutral rating to a sell rating in a research note issued to investors on Thursday, January 4th, Marketbeat reports. They currently have $32.00 price objective on the bank’s stock.

A number of other equities research analysts have also recently issued reports on FHB. BidaskClub raised shares of First Hawaiian from a hold rating to a buy rating in a report on Saturday, September 30th. Barclays upped their price target on shares of First Hawaiian from $32.00 to $36.00 and gave the stock an overweight rating in a report on Tuesday, January 2nd. Zacks Investment Research cut shares of First Hawaiian from a hold rating to a sell rating in a report on Tuesday, September 26th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $34.00 price target on shares of First Hawaiian in a report on Friday, December 22nd. Finally, UBS Group upped their price target on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a neutral rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $33.29.

Shares of First Hawaiian (NASDAQ:FHB) traded up $0.83 during mid-day trading on Thursday, reaching $32.21. 435,000 shares of the company’s stock were exchanged, compared to its average volume of 348,667. First Hawaiian has a 1-year low of $26.30 and a 1-year high of $34.68. The company has a market cap of $4,500.00 and a PE ratio of 19.64.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Thursday, October 26th. The bank reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. First Hawaiian had a net margin of 30.22% and a return on equity of 9.02%. The business had revenue of $133.32 million for the quarter, compared to analysts’ expectations of $136.44 million. During the same quarter in the previous year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. research analysts expect that First Hawaiian will post 1.63 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in First Hawaiian by 11.8% in the second quarter. Pacer Advisors Inc. now owns 3,546 shares of the bank’s stock valued at $109,000 after acquiring an additional 374 shares during the last quarter. Jane Street Group LLC bought a new position in First Hawaiian in the third quarter valued at $208,000. Aperio Group LLC bought a new position in First Hawaiian in the third quarter valued at $210,000. Rafferty Asset Management LLC bought a new position in First Hawaiian in the second quarter valued at $241,000. Finally, Cadence Capital Management LLC bought a new position in First Hawaiian in the third quarter valued at $245,000. 35.74% of the stock is currently owned by institutional investors and hedge funds.

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About First Hawaiian

First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.

Analyst Recommendations for First Hawaiian (NASDAQ:FHB)

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