First Hawaiian Inc (FHB) Upgraded by Zacks Investment Research to Hold
First Hawaiian Inc (NYSE:FHB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “First Hawaiian, Inc. offers banking services to consumer and commercial customers which includes deposit products, lending services and wealth management, insurance, private banking and trust services. First Hawaiian Inc. is based in San Francisco, California. “
FHB has been the topic of a number of other reports. BidaskClub upgraded shares of First Hawaiian from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. Barclays PLC set a $32.00 price target on First Hawaiian and gave the company a “buy” rating in a report on Wednesday, October 11th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $29.00 price target (down from $30.00) on shares of First Hawaiian in a report on Monday, July 31st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $32.50.
First Hawaiian (FHB) traded up $0.22 during mid-day trading on Friday, hitting $29.37. 127,313 shares of the company were exchanged.
First Hawaiian (NYSE:FHB) last released its earnings results on Thursday, October 26th. The bank reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. First Hawaiian had a net margin of 32.09% and a return on equity of 9.12%. The firm had revenue of $133.32 million for the quarter, compared to analyst estimates of $136.44 million. During the same period in the prior year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC acquired a new stake in shares of First Hawaiian in the second quarter valued at approximately $127,437,000. Vanguard Group Inc. boosted its holdings in shares of First Hawaiian by 6.1% in the second quarter. Vanguard Group Inc. now owns 4,146,953 shares of the bank’s stock valued at $126,981,000 after acquiring an additional 238,056 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of First Hawaiian by 19.6% in the second quarter. JPMorgan Chase & Co. now owns 3,647,583 shares of the bank’s stock valued at $111,689,000 after acquiring an additional 597,492 shares during the period. Wellington Management Group LLP boosted its holdings in shares of First Hawaiian by 459.1% in the first quarter. Wellington Management Group LLP now owns 3,546,109 shares of the bank’s stock valued at $106,100,000 after acquiring an additional 2,911,800 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in shares of First Hawaiian by 212.8% in the first quarter. Neuberger Berman Group LLC now owns 2,931,859 shares of the bank’s stock valued at $87,721,000 after acquiring an additional 1,994,659 shares during the period.
About First Hawaiian
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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