TD Cowen Has Lowered Expectations for First Hawaiian (NASDAQ:FHB) Stock Price

First Hawaiian (NASDAQ:FHB) had its price objective decreased by equities research analysts at TD Cowen from $31.00 to $28.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the bank’s stock. TD Cowen’s price objective points to a potential upside of 12.00% from the stock’s current price.

Several other analysts have also commented on FHB. Barclays lifted their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group raised their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research note on Tuesday, July 7th. Benchmark reiterated a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th. Stephens raised First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised First Hawaiian from an “underweight” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $29.00 in a research report on Thursday, October 1st. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.00.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $25.00 on Monday. The company has a market capitalization of $3.04 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. The business has a fifty day moving average price of $26.23 and a two-hundred day moving average price of $26.95. First Hawaiian has a 1 year low of $22.65 and a 1 year high of $30.58.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $231.27 million during the quarter, compared to analyst estimates of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same period last year, the firm posted $0.58 EPS. Sell-side analysts anticipate that First Hawaiian will post 2.37 earnings per share for the current year.

Hedge Funds Weigh In On First Hawaiian

A number of large investors have recently made changes to their positions in FHB. BlackRock Inc. purchased a new position in shares of First Hawaiian in the second quarter valued at $483,971,000. The Manufacturers Life Insurance Company purchased a new stake in shares of First Hawaiian in the second quarter worth about $62,568,000. Bank of America Corp DE bought a new position in shares of First Hawaiian in the second quarter valued at approximately $53,105,000. Norges Bank bought a new position in shares of First Hawaiian in the fourth quarter valued at approximately $40,281,000. Finally, Bank of New York Mellon Corp purchased a new position in First Hawaiian during the second quarter valued at approximately $32,977,000. 97.63% of the stock is owned by institutional investors.

First Hawaiian Company Profile

First Hawaiian, Inc is a bank holding company headquartered in Honolulu, Hawaii, and the parent company of First Hawaiian Bank. Founded in 1858, First Hawaiian Bank is one of the oldest financial institutions in Hawaii and provides banking services to consumers, businesses, and government and institutional customers.

First Hawaiian Bank offers a range of financial products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, credit cards, treasury management, online and mobile banking, and wealth management services.