First Hawaiian (NASDAQ:FHB) Stock Rating Lowered by Zacks Research

First Hawaiian (NASDAQ:FHB) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

FHB has been the subject of several other research reports. Barclays upgraded First Hawaiian from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $26.00 to $28.00 in a research report on Tuesday, November 11th. Keefe, Bruyette & Woods raised their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “market perform” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. boosted their price objective on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Tuesday, December 16th. Weiss Ratings lowered shares of First Hawaiian from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Piper Sandler lifted their price target on shares of First Hawaiian from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. Seven equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $27.71.

First Hawaiian Stock Down 0.7%

Shares of NASDAQ:FHB opened at $26.06 on Thursday. First Hawaiian has a 52 week low of $20.32 and a 52 week high of $28.28. The company has a 50-day moving average price of $25.03 and a 200 day moving average price of $24.96. The company has a market cap of $3.22 billion, a P/E ratio of 12.71, a PEG ratio of 1.68 and a beta of 0.74.

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

Insider Activity

In other First Hawaiian news, insider Alan Arizumi sold 6,566 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.34, for a total value of $166,382.44. Following the sale, the insider owned 1,962 shares of the company’s stock, valued at $49,717.08. This represents a 76.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Hawaiian

A number of large investors have recently bought and sold shares of the stock. Deutsche Bank AG raised its holdings in shares of First Hawaiian by 22.8% in the first quarter. Deutsche Bank AG now owns 10,347 shares of the bank’s stock worth $253,000 after acquiring an additional 1,918 shares during the last quarter. Russell Investments Group Ltd. increased its position in First Hawaiian by 17.5% during the 1st quarter. Russell Investments Group Ltd. now owns 13,965 shares of the bank’s stock worth $341,000 after purchasing an additional 2,077 shares in the last quarter. Evergreen Capital Management LLC raised its stake in First Hawaiian by 11.5% in the 1st quarter. Evergreen Capital Management LLC now owns 41,553 shares of the bank’s stock valued at $1,016,000 after purchasing an additional 4,293 shares during the last quarter. Graham Capital Management L.P. purchased a new position in First Hawaiian in the 1st quarter valued at about $2,031,000. Finally, Royal Bank of Canada lifted its holdings in First Hawaiian by 8.6% in the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock valued at $4,041,000 after purchasing an additional 13,071 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

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.