Piper Sandler Issues Pessimistic Forecast for First Hawaiian (NASDAQ:FHB) Stock Price

First Hawaiian (NASDAQ:FHB) had its target price reduced by research analysts at Piper Sandler from $28.00 to $27.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price would indicate a potential upside of 3.09% from the company’s previous close.

Several other brokerages have also commented on FHB. TD Cowen decreased their target price on First Hawaiian from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods raised 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Hawaiian in a report on Monday, December 29th. Barclays upgraded shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $26.00 to $28.00 in a research note on Tuesday, November 11th. Finally, Zacks Research downgraded shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, First Hawaiian has an average rating of “Reduce” and an average target price of $27.50.

First Hawaiian Trading Down 1.4%

FHB stock traded down $0.36 during mid-day trading on Monday, hitting $26.19. 187,018 shares of the company were exchanged, compared to its average volume of 1,513,075. The firm has a fifty day simple moving average of $26.15 and a 200 day simple moving average of $25.26. The company has a market capitalization of $3.24 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.87 and a beta of 0.73. First Hawaiian has a twelve month low of $20.32 and a twelve month high of $28.35.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, January 30th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The business had revenue of $199.68 million for the quarter, compared to analysts’ expectations of $225.33 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same quarter last year, the company posted $0.41 earnings per share. As a group, sell-side analysts anticipate that First Hawaiian will post 1.95 earnings per share for the current year.

Insider Buying and Selling

In other First Hawaiian news, insider Alan Arizumi sold 36,460 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.35, for a total value of $924,261.00. Following the sale, the insider owned 37,508 shares in the company, valued at approximately $950,827.80. This trade represents a 49.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On First Hawaiian

Large investors have recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in shares of First Hawaiian by 131.9% in the 3rd quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank’s stock worth $71,800,000 after acquiring an additional 1,644,752 shares during the period. AQR Capital Management LLC raised its holdings in First Hawaiian by 230.8% during the third quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank’s stock worth $54,784,000 after purchasing an additional 1,539,415 shares in the last quarter. Norges Bank acquired a new stake in First Hawaiian in the second quarter worth approximately $35,362,000. UBS Group AG boosted its stake in First Hawaiian by 176.0% during the 4th quarter. UBS Group AG now owns 1,128,002 shares of the bank’s stock valued at $28,538,000 after purchasing an additional 719,312 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in First Hawaiian by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock valued at $365,777,000 after purchasing an additional 358,632 shares in the last quarter. 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.