First Hawaiian (NASDAQ:FHB) Upgraded by Zacks Research to Strong-Buy Rating

First Hawaiian (NASDAQ:FHB) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Barclays raised shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $26.00 to $28.00 in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of First Hawaiian from $26.00 to $27.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Keefe, Bruyette & Woods upped their price objective on First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a report on Tuesday, October 28th. TD Cowen started coverage on First Hawaiian in a report on Thursday, September 25th. They issued a “hold” rating and a $27.00 target price on the stock. Finally, Weiss Ratings lowered First Hawaiian from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $27.75.

First Hawaiian Stock Down 0.9%

First Hawaiian stock opened at $24.56 on Wednesday. The firm has a market capitalization of $3.04 billion, a PE ratio of 11.98, a P/E/G ratio of 1.61 and a beta of 0.91. First Hawaiian has a 52 week low of $20.32 and a 52 week high of $28.80. The firm’s 50-day simple moving average is $24.73 and its 200 day simple moving average is $24.60.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Monday, August 9th. The bank reported $0.44 EPS for the quarter. The firm 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%. On average, research analysts expect that First Hawaiian will post 1.95 EPS for the current fiscal year.

Hedge Funds Weigh In On First Hawaiian

Several large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in shares of First Hawaiian by 74.9% during the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock worth $25,000 after purchasing an additional 438 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in 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. boosted its stake in First Hawaiian by 11,325.0% in the second quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,359 shares during the period. Headlands Technologies LLC bought a new position in shares of First Hawaiian during the first quarter valued at approximately $44,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of First Hawaiian during the 3rd quarter worth approximately $64,000. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Company Profile

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.