Zacks Research Upgrades First Hawaiian (NASDAQ:FHB) to Strong-Buy

First Hawaiian (NASDAQ:FHB) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on FHB. Keefe, Bruyette & Woods lifted their price objective on First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 28th. Barclays raised First Hawaiian from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $26.00 to $28.00 in a research note on Tuesday. Piper Sandler increased their target price on shares of First Hawaiian from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Weiss Ratings cut shares of First Hawaiian from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $27.75.

First Hawaiian Trading Down 1.3%

NASDAQ FHB traded down $0.31 on Wednesday, reaching $24.25. The company’s stock had a trading volume of 3,211,081 shares, compared to its average volume of 947,148. The business has a 50-day moving average price of $24.73 and a 200 day moving average price of $24.60. First Hawaiian has a 52 week low of $20.32 and a 52 week high of $28.80. The firm has a market cap of $3.00 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.61 and a beta of 0.91.

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

Hedge Funds Weigh In On First Hawaiian

Several hedge funds and other institutional investors have recently modified their holdings of FHB. Farther Finance Advisors LLC lifted its position in shares of First Hawaiian by 74.9% during the 3rd 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. Caitong International Asset Management Co. Ltd lifted its holdings in shares of First Hawaiian by 199.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank’s stock worth $26,000 after acquiring an additional 705 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of First Hawaiian by 11,325.0% in the second quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock worth $34,000 after acquiring an additional 1,359 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of First Hawaiian in the 1st quarter valued at approximately $44,000. Finally, Bayforest Capital Ltd bought a new stake in shares of First Hawaiian during the 3rd quarter valued at approximately $64,000. 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.