Piper Sandler Has Lowered Expectations for First Hawaiian (NASDAQ:FHB) Stock Price

Key Points

• Piper Sandler cut First Hawaiian’s price target from $30 to $27 while maintaining a neutral rating, implying roughly 9.7% upside from the prior close.
• Analyst sentiment remains mixed but leans toward caution: the stock has a consensus “Hold” rating and an average price target of $29.38, based on two Buy, seven Hold, and two Sell ratings.
• First Hawaiian exceeded quarterly expectations, reporting $0.60 in earnings per share versus a $0.58 consensus estimate and revenue of $231.27 million; institutional investors own 97.63% of the company.

First Hawaiian (NASDAQ:FHB - Get Free Report) had its price objective decreased by analysts at Piper Sandler from $30.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the bank's stock. Piper Sandler's price objective would indicate a potential upside of 9.67% from the stock's previous close.

A number of other research analysts have also recently commented on the company. Barclays increased their price target on First Hawaiian from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. upgraded First Hawaiian from an "underweight" rating to a "neutral" rating and set a $29.00 price objective on the stock in a research report on Thursday. TD Cowen lowered their target price on First Hawaiian from $32.00 to $31.00 and set a "hold" rating for the company in a report on Wednesday, July 29th. Stephens raised First Hawaiian from an "equal weight" rating to an "overweight" rating and set a $33.00 price target on the stock in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group boosted their price target on First Hawaiian from $27.00 to $30.00 and gave the stock a "sell" rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, First Hawaiian currently has a consensus rating of "Hold" and an average price target of $29.38.

First Hawaiian Trading Down 0.8%

Shares of First Hawaiian stock opened at $24.62 on Thursday. The firm has a market capitalization of $3.00 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. The firm's 50 day moving average is $26.48 and its 200 day moving average is $26.92. First Hawaiian has a 1 year low of $22.65 and a 1 year high of $30.58.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The business had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. During the same quarter in the prior year, the firm earned $0.58 EPS. As a group, research analysts anticipate that First Hawaiian will post 2.37 earnings per share for the current year.

Institutional Trading of First Hawaiian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its position in shares of First Hawaiian by 378.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank's stock worth $27,000 after purchasing an additional 738 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of First Hawaiian during the fourth quarter worth $26,000. Anchor Investment Management LLC bought a new position in First Hawaiian during the second quarter worth $30,000. Global Retirement Partners LLC acquired a new position in First Hawaiian in the second quarter valued at $51,000. Finally, Nykredit A S acquired a new position in First Hawaiian in the second quarter valued at $65,000. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Company Profile

First Hawaiian, Inc is a bank holding company headquartered in Honolulu, Hawaii, and the parent company of First Hawaiian Bank. Founded in 1858, First Hawaiian Bank is one of the oldest financial institutions in Hawaii and provides banking services to consumers, businesses, and government and institutional customers.

First Hawaiian Bank offers a range of financial products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, credit cards, treasury management, online and mobile banking, and wealth management services.

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