StockNews.com assumed coverage on shares of First Hawaiian (NASDAQ:FHB – Get Free Report) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the bank’s stock.
A number of other equities analysts have also recently weighed in on FHB. Wells Fargo & Company cut their price target on First Hawaiian from $20.00 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday. The Goldman Sachs Group upped their target price on First Hawaiian from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Monday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on First Hawaiian from $20.00 to $22.00 in a research report on Thursday, June 29th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.00.
Read Our Latest Report on First Hawaiian
First Hawaiian Stock Performance
First Hawaiian (NASDAQ:FHB – Get Free Report) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.01). First Hawaiian had a return on equity of 12.14% and a net margin of 27.51%. The firm had revenue of $276.55 million for the quarter, compared to analyst estimates of $211.99 million. During the same period in the prior year, the firm posted $0.46 earnings per share. Sell-side analysts forecast that First Hawaiian will post 1.88 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of FHB. The Manufacturers Life Insurance Company lifted its holdings in First Hawaiian by 36.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,789,722 shares of the bank’s stock worth $158,303,000 after buying an additional 2,359,836 shares during the last quarter. Norges Bank bought a new position in First Hawaiian during the 4th quarter worth approximately $34,342,000. State Street Corp lifted its holdings in shares of First Hawaiian by 19.0% in the 2nd quarter. State Street Corp now owns 6,139,948 shares of the bank’s stock worth $110,580,000 after purchasing an additional 979,494 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of First Hawaiian by 917.9% in the 3rd quarter. Balyasny Asset Management LLC now owns 917,431 shares of the bank’s stock worth $22,596,000 after purchasing an additional 827,297 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of First Hawaiian by 4.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,037,353 shares of the bank’s stock worth $289,591,000 after purchasing an additional 629,893 shares during the last quarter. 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 through three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, include checking and savings accounts, and other deposit accounts.
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