First Hawaiian (NASDAQ:FHB) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded First Hawaiian from “sell” to “hold.” Overall analyst sentiment remains cautious, with an average “Reduce” rating and a $30.25 price target.
• First Hawaiian reported quarterly EPS of $0.60, exceeding the $0.58 consensus estimate, while revenue of $231.27 million also surpassed expectations.
• The stock opened at $25.25, with a $3.07 billion market capitalization and a 52-week range of $22.65 to $30.58. Institutional investors own approximately 97.63% of the company.

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

A number of other research analysts also recently commented on FHB. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Hawaiian in a research report on Monday, July 6th. The Goldman Sachs Group upped 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. Stephens upgraded First Hawaiian from an "equal weight" rating to an "overweight" rating and set a $33.00 price objective for the company in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on First Hawaiian from $27.00 to $31.00 and gave the company an "underweight" rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company upped their target price on First Hawaiian from $26.00 to $28.00 and gave the stock an "underweight" rating in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, First Hawaiian has an average rating of "Reduce" and an average price target of $30.25.

First Hawaiian Stock Performance

First Hawaiian stock opened at $25.25 on Friday. The firm has a market capitalization of $3.07 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.57 and a beta of 0.72. First Hawaiian has a one year low of $22.65 and a one year high of $30.58. The stock's 50 day moving average price is $26.72 and its 200 day moving average price is $26.88.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The firm had revenue of $231.27 million during the quarter, compared to analyst estimates 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 company posted $0.58 EPS. On average, analysts forecast that First Hawaiian will post 2.37 earnings per share for the current fiscal year.

Institutional Trading of First Hawaiian

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of First Hawaiian in the second quarter worth $483,971,000. The Manufacturers Life Insurance Company acquired a new stake in First Hawaiian in the 2nd quarter worth $62,568,000. Bank of America Corp DE bought a new position in shares of First Hawaiian during the 2nd quarter worth about $53,105,000. Norges Bank acquired a new position in shares of First Hawaiian during the fourth quarter valued at about $40,281,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of First Hawaiian during the second quarter valued at about $32,977,000. 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.

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