First Hawaiian (NASDAQ:FHB) Cut to Sell at Wall Street Zen

Key Points

• First Hawaiian was downgraded by Wall Street Zen from hold to sell, adding to a mixed analyst backdrop that now includes one Buy, five Hold, and three Sell ratings.
• Despite the downgrade, the stock has traded near its yearly high, opening at $27.34 with a 52-week range of $22.65 to $28.35; analysts’ average price target is $27.56.
• The bank recently beat earnings expectations, reporting $0.55 EPS versus the $0.53 estimate, though revenue of $220.35 million came in slightly below forecasts.

First Hawaiian (NASDAQ:FHB - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Several other research analysts also recently commented on FHB. Wells Fargo & Company lifted their target price on shares of First Hawaiian from $24.00 to $26.00 and gave the stock an "underweight" rating in a report on Monday, March 30th. Piper Sandler lifted their target price on shares of First Hawaiian from $25.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. TD Cowen lifted their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a "hold" rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their target price on shares of First Hawaiian from $29.00 to $25.00 and set an "underweight" rating on the stock in a report on Wednesday, April 1st. Finally, Stephens set a $28.00 target price on shares of First Hawaiian in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $27.56.

First Hawaiian Stock Down 0.3%

Shares of FHB opened at $27.34 on Friday. The company's fifty day moving average is $25.49 and its 200-day moving average is $25.64. First Hawaiian has a 12 month low of $22.65 and a 12 month high of $28.35. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 2.02 and a beta of 0.75.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. The company had revenue of $220.35 million for the quarter, compared to analyst estimates of $223.59 million. During the same quarter in the prior year, the business posted $0.47 EPS. As a group, research analysts predict that First Hawaiian will post 2.33 earnings per share for the current fiscal year.

Institutional Trading of First Hawaiian

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its position in First Hawaiian by 74.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank's stock worth $25,000 after purchasing an additional 438 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in First Hawaiian in the 4th quarter worth $26,000. Northwestern Mutual Wealth Management Co. grew its position in First Hawaiian by 2,916.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank's stock worth $27,000 after purchasing an additional 1,050 shares during the last quarter. Global Retirement Partners LLC grew its position in First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank's stock worth $43,000 after purchasing an additional 534 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in First Hawaiian in the 4th quarter worth $46,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Company Profile

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.

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