First Hawaiian (NASDAQ:FHB) Rating Lowered to “Sell” at Wall Street Zen

First Hawaiian (NASDAQ:FHB) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other brokerages have also recently weighed in on FHB. Piper Sandler dropped their price objective on First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Barclays upgraded First Hawaiian from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $26.00 to $28.00 in a research report on Tuesday, November 11th. The Goldman Sachs Group set a $27.50 price objective on shares of First Hawaiian and gave the stock a “sell” rating in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Monday, February 2nd. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $27.50.

First Hawaiian Stock Up 0.8%

NASDAQ FHB opened at $26.30 on Friday. The company has a market capitalization of $3.25 billion, a P/E ratio of 11.95, a P/E/G ratio of 2.08 and a beta of 0.73. First Hawaiian has a 12-month low of $20.32 and a 12-month high of $28.35. The firm has a 50-day moving average price of $26.47 and a two-hundred day moving average price of $25.37.

First Hawaiian (NASDAQ:FHB) last announced its 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 company 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 period last year, the firm earned $0.41 earnings per share. Equities analysts expect that First Hawaiian will post 1.95 EPS for the current year.

Insider Activity at First Hawaiian

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alan Arizumi sold 6,566 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $25.34, for a total value of $166,382.44. Following the completion of the transaction, the insider owned 1,962 shares of the company’s stock, valued at $49,717.08. The trade was a 76.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 45,026 shares of company stock worth $1,144,928 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Hawaiian

A number of hedge funds have recently modified their holdings of the business. Eurizon Capital SGR S.p.A. acquired a new stake in First Hawaiian in the fourth quarter valued at $26,000. Farther Finance Advisors LLC increased its stake in shares of First Hawaiian by 74.9% in the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock valued at $25,000 after buying an additional 438 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of First Hawaiian by 2,916.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after acquiring an additional 1,050 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of First Hawaiian by 11,325.0% during 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. Finally, Global Retirement Partners LLC lifted its stake in shares of First Hawaiian by 45.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after acquiring an additional 534 shares during the period. 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.