First Hawaiian's (FHB) Buy (B-) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated its "buy (B-)" rating for First Hawaiian's stock, indicating confidence in its performance.
• First Hawaiian's stock currently has an average rating of "Reduce" with a consensus price target of $27.06, which suggests mixed sentiments from various analysts.
• The bank has recently posted earnings of $0.58 per share, surpassing analysts' expectations and showcasing a strong revenue of $217.54 million for the quarter.

First Hawaiian (NASDAQ:FHB - Get Free Report)'s stock had its "buy (b-)" rating reissued by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other analysts also recently weighed in on FHB. TD Cowen assumed coverage on shares of First Hawaiian in a research report on Thursday, September 25th. They set a "hold" rating and a $27.00 target price for the company. Wells Fargo & Company increased their target price on shares of First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research report on Thursday, July 10th. Cowen started coverage on shares of First Hawaiian in a research report on Wednesday, September 24th. They set a "hold" rating for the company. JPMorgan Chase & Co. raised their price objective on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Finally, Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $27.06.

First Hawaiian Stock Performance

NASDAQ:FHB opened at $24.51 on Wednesday. The company has a market capitalization of $3.05 billion, a PE ratio of 12.63, a P/E/G ratio of 5.98 and a beta of 0.84. The company has a 50 day simple moving average of $25.03 and a two-hundred day simple moving average of $24.35. First Hawaiian has a fifty-two week low of $20.32 and a fifty-two week high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its earnings results on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.09. The business had revenue of $217.54 million during the quarter, compared to the consensus estimate of $214.67 million. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. During the same quarter in the prior year, the firm posted $0.48 EPS. Research analysts predict that First Hawaiian will post 1.95 EPS for the current year.

Hedge Funds Weigh In On First Hawaiian

A number of hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC purchased a new position in First Hawaiian during the 2nd quarter worth $257,000. State of Wyoming purchased a new position in First Hawaiian during the 2nd quarter worth $137,000. Public Sector Pension Investment Board boosted its holdings in First Hawaiian by 6.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 428,548 shares of the bank's stock worth $10,697,000 after acquiring an additional 27,591 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in First Hawaiian by 2.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 139,437 shares of the bank's stock worth $3,483,000 after acquiring an additional 2,704 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of First Hawaiian by 538.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,077 shares of the bank's stock worth $102,000 after purchasing an additional 3,438 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Company Profile

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.

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