First Hawaiian (NASDAQ:FHB) Raised to Strong-Buy at Zacks Research

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

Several other equities research analysts have also recently commented on the company. The Goldman Sachs Group raised their target price on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research note on Tuesday, July 7th. Piper Sandler boosted their price target on First Hawaiian from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays increased their price target on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. TD Cowen raised their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Hawaiian in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.25.

First Hawaiian Trading Up 3.4%

Shares of FHB opened at $29.72 on Wednesday. The firm’s fifty day simple moving average is $28.11 and its two-hundred day simple moving average is $26.72. First Hawaiian has a 12 month low of $22.65 and a 12 month high of $30.58. The stock has a market capitalization of $3.62 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.57 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $220.35 million during the quarter, compared to analyst estimates of $223.59 million. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.During the same period last year, the company posted $0.47 EPS. As a group, research analysts predict that First Hawaiian will post 2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Oak Thistle LLC bought a new stake in shares of First Hawaiian during the fourth quarter valued at approximately $1,243,000. SG Americas Securities LLC lifted its holdings in shares of First Hawaiian by 409.2% in the 4th quarter. SG Americas Securities LLC now owns 89,506 shares of the bank’s stock worth $2,265,000 after purchasing an additional 71,927 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of First Hawaiian by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock worth $365,777,000 after purchasing an additional 358,632 shares in the last quarter. Ruffer LLP bought a new stake in First Hawaiian during the 4th quarter valued at $3,028,000. Finally, UBS Group AG raised its holdings in First Hawaiian by 176.0% during the fourth quarter. UBS Group AG now owns 1,128,002 shares of the bank’s stock worth $28,538,000 after buying an additional 719,312 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

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.