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

First Hawaiian (NASDAQ:FHB) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the stock. Zacks Research lowered shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. increased their target price on shares of First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. Benchmark reiterated a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group boosted 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. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $30.25.

First Hawaiian Stock Performance

FHB opened at $25.76 on Friday. The stock has a market capitalization of $3.13 billion, a P/E ratio of 11.20, a PEG ratio of 1.62 and a beta of 0.72. The stock has a 50-day moving average price of $27.11 and a 200-day moving average price of $26.89. First Hawaiian has a 12-month low of $22.65 and a 12-month high of $30.58.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $231.27 million for the quarter, compared to analysts’ expectations 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. On average, equities research analysts predict that First Hawaiian will post 2.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of First Hawaiian in the 2nd quarter worth approximately $483,971,000. Dimensional Fund Advisors LP raised its holdings in shares of First Hawaiian by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,693,630 shares of the bank’s stock valued at $164,927,000 after acquiring an additional 313,362 shares in the last quarter. Reinhart Partners LLC. lifted its stake in First Hawaiian by 0.7% in the second quarter. Reinhart Partners LLC. now owns 2,660,876 shares of the bank’s stock worth $77,964,000 after acquiring an additional 18,977 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in First Hawaiian in the second quarter worth $62,568,000. Finally, Bank of America Corp DE bought a new stake in First Hawaiian in the second quarter valued at $53,105,000. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Company Profile

First Hawaiian, Inc (NASDAQ: FHB) is the holding company for First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858 as Bishop & Company, First Hawaiian Bank is the oldest bank in Hawaii and provides banking and financial services to consumers, businesses and government organizations.

The bank offers deposit accounts, residential and commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.