First Hawaiian (NASDAQ:FHB) Stock Rating Lowered by Zacks Research

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

A number of other equities research analysts also recently commented on FHB. Wall Street Zen downgraded First Hawaiian from a “hold” rating to a “sell” rating in a research report on Sunday, August 2nd. Stephens upgraded First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price target for the company in a report on Thursday, August 6th. Benchmark reissued a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Weiss Ratings restated a “buy (b)” rating on shares of First Hawaiian in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, First Hawaiian presently has an average rating of “Reduce” and a consensus price target of $30.25.

First Hawaiian Stock Performance

FHB stock opened at $27.66 on Thursday. The firm has a market cap of $3.37 billion, a PE ratio of 12.03, a PEG ratio of 1.76 and a beta of 0.73. The firm’s 50 day moving average price is $28.59 and its 200-day moving average price is $26.95. First Hawaiian has a one year low of $22.65 and a one year high of $30.58.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm 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 in the prior year, the firm posted $0.58 earnings per share. Equities research analysts predict that First Hawaiian will post 2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On First Hawaiian

A number of institutional investors have recently modified their holdings of FHB. BlackRock Inc. purchased a new stake in shares of First Hawaiian in the 2nd quarter valued at $483,971,000. Vanguard Group Inc. lifted its stake in First Hawaiian by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock worth $365,777,000 after acquiring an additional 358,632 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in First Hawaiian by 4.9% during the 1st 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 during the period. State Street Corp boosted its holdings in First Hawaiian by 1.3% during the 2nd quarter. State Street Corp now owns 5,883,194 shares of the bank’s stock valued at $146,845,000 after acquiring an additional 77,478 shares during the period. Finally, AQR Capital Management LLC grew its position in First Hawaiian by 68.6% in the 4th quarter. AQR Capital Management LLC now owns 3,720,826 shares of the bank’s stock valued at $94,137,000 after acquiring an additional 1,514,465 shares in 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.