Barclays Reaffirms Underweight Rating for First Hawaiian (NASDAQ:FHB)

First Hawaiian (NASDAQ:FHB - Get Free Report)'s stock had its "underweight" rating reaffirmed by research analysts at Barclays in a note issued to investors on Tuesday, MarketBeat reports.

Several other analysts have also recently weighed in on FHB. Keefe, Bruyette & Woods reduced their price target on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company dropped their price target on shares of First Hawaiian from $24.00 to $22.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to MarketBeat.com, First Hawaiian presently has a consensus rating of "Reduce" and an average price target of $27.36.

First Hawaiian Price Performance

NASDAQ:FHB traded up $0.16 during trading hours on Tuesday, hitting $26.43. The company's stock had a trading volume of 1,433,465 shares, compared to its average volume of 761,570. First Hawaiian has a twelve month low of $20.32 and a twelve month high of $28.80. The stock has a fifty day simple moving average of $24.12 and a 200-day simple moving average of $24.81. The company has a market capitalization of $3.32 billion, a P/E ratio of 14.36, a PEG ratio of 4.74 and a beta of 0.83.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $211.00 million for the quarter, compared to analyst estimates of $210.24 million. First Hawaiian had a net margin of 20.36% and a return on equity of 8.99%. The firm's revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. On average, equities analysts predict that First Hawaiian will post 1.95 EPS for the current fiscal year.

Institutional Trading of First Hawaiian

Hedge funds and other institutional investors have recently bought and sold shares of the business. Illinois Municipal Retirement Fund increased its stake in First Hawaiian by 4.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 70,300 shares of the bank's stock valued at $1,718,000 after buying an additional 2,678 shares during the last quarter. GAMMA Investing LLC increased its holdings in First Hawaiian by 36.4% during the 1st quarter. GAMMA Investing LLC now owns 4,943 shares of the bank's stock worth $121,000 after acquiring an additional 1,319 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in First Hawaiian by 88.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,530 shares of the bank's stock worth $351,000 after purchasing an additional 6,366 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in First Hawaiian in the 4th quarter valued at $215,000. Finally, Norges Bank bought a new position in First Hawaiian in the 4th quarter valued at $36,266,000. Institutional investors own 97.63% of the company's stock.

About First Hawaiian

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.