TD Cowen Initiates Coverage on First Hawaiian (NASDAQ:FHB)

Key Points

• TD Cowen has initiated coverage on First Hawaiian (NASDAQ:FHB) with a "hold" rating and a price target of $27.00, indicating a potential upside of 7.36% from its last closing price.
• Several analysts, including Wells Fargo and JPMorgan Chase, have also adjusted their ratings and price targets for First Hawaiian, reflecting a mixed sentiment with four "Hold" and four "Sell" ratings from analysts.
• First Hawaiian recently reported earnings of $0.58 per share, beating analysts' expectations, with a net margin of 21.45% and a revenue of $217.54 million for the quarter.

Stock analysts at TD Cowen began coverage on shares of First Hawaiian (NASDAQ:FHB - Get Free Report) in a research report issued on Thursday. The brokerage set a "hold" rating and a $27.00 price target on the bank's stock. TD Cowen's price objective points to a potential upside of 7.36% from the stock's previous close.

Several other analysts also recently commented on the stock. Wall Street Zen upgraded shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Wells Fargo & Company lifted their target price on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Finally, Piper Sandler initiated coverage on shares of First Hawaiian in a research note on Thursday, August 21st. They issued a "neutral" rating and a $26.00 price target for the company. Four analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $27.06.

First Hawaiian Stock Up 0.4%

Shares of NASDAQ FHB opened at $25.15 on Thursday. The firm has a market cap of $3.13 billion, a PE ratio of 12.96, a P/E/G ratio of 6.08 and a beta of 0.89. First Hawaiian has a 12-month low of $20.32 and a 12-month high of $28.80. The company's fifty day simple moving average is $25.13 and its 200 day simple moving average is $24.34.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings data 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. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. The firm had revenue of $217.54 million for the quarter, compared to analyst estimates of $214.67 million. During the same period last year, the firm earned $0.48 earnings per share. On average, equities analysts predict that First Hawaiian will post 1.95 earnings per share for the current year.

Institutional Trading of First Hawaiian

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in shares of First Hawaiian by 199.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank's stock valued at $26,000 after acquiring an additional 705 shares during the last quarter. Hantz Financial Services Inc. increased its position in First Hawaiian by 11,325.0% in the second quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank's stock worth $34,000 after purchasing an additional 1,359 shares during the last quarter. Headlands Technologies LLC bought a new stake in First Hawaiian in the first quarter worth $44,000. EverSource Wealth Advisors LLC boosted its stake in First Hawaiian by 333.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,759 shares of the bank's stock worth $69,000 after buying an additional 2,123 shares during the period. Finally, Versant Capital Management Inc boosted its stake in First Hawaiian by 65.1% during the first quarter. Versant Capital Management Inc now owns 3,128 shares of the bank's stock worth $76,000 after buying an additional 1,233 shares during the period. Hedge funds and other institutional investors own 97.63% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.