First Hawaiian (NASDAQ:FHB) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded First Hawaiian from “hold” to “sell,” while the broader analyst consensus is “Reduce,” with an average price target of $30.25.
• First Hawaiian shares opened at $25.76, below their 50-day and 200-day moving averages, and were reported down 0.2%.
• The bank exceeded quarterly expectations, reporting $0.60 in EPS versus a $0.58 consensus estimate and revenue of $231.27 million versus $227.77 million expected; institutional investors own 97.63% of the stock.

First Hawaiian (NASDAQ:FHB - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts have also recently commented on FHB. Piper Sandler lifted their price target on First Hawaiian from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Wells Fargo & Company increased their price objective on First Hawaiian from $26.00 to $28.00 and gave the company an "underweight" rating in a report on Monday, July 6th. Weiss Ratings restated a "buy (b)" rating on shares of First Hawaiian in a research note on Monday, July 6th. Benchmark reaffirmed a "hold" rating on shares of First Hawaiian in a report on Tuesday, July 14th. Finally, Barclays upped their target price on First Hawaiian from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $30.25.

First Hawaiian Trading Down 0.2%

Shares of First Hawaiian stock opened at $25.76 on Friday. The firm's 50 day simple moving average is $27.11 and its two-hundred day simple moving average is $26.88. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.63 and a beta of 0.72. First Hawaiian has a 12-month low of $22.65 and a 12-month high of $30.58.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same period in the previous year, the firm posted $0.58 earnings per share. On average, sell-side analysts predict that First Hawaiian will post 2.34 EPS for the current fiscal year.

Hedge Funds Weigh In On First Hawaiian

A number of institutional investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund lifted its holdings in shares of First Hawaiian by 0.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank's stock valued at $1,602,000 after buying an additional 397 shares during the period. Evolve Private Wealth LLC grew its holdings in First Hawaiian by 1.6% during the first quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank's stock worth $643,000 after acquiring an additional 406 shares during the period. IFP Advisors Inc grew its holdings in First Hawaiian by 17.9% during the second quarter. IFP Advisors Inc now owns 3,231 shares of the bank's stock worth $95,000 after acquiring an additional 491 shares during the period. Parallel Advisors LLC raised its position in First Hawaiian by 11.3% during the first quarter. Parallel Advisors LLC now owns 5,171 shares of the bank's stock valued at $127,000 after acquiring an additional 525 shares in the last quarter. Finally, Allworth Financial LP raised its position in First Hawaiian by 33.4% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the bank's stock valued at $70,000 after acquiring an additional 693 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

About First Hawaiian

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.

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