First Hawaiian (NASDAQ:FHB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

First Hawaiian (NASDAQ:FHB) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $27.00 to $29.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 10.27% from the company’s previous close.

A number of other equities analysts also recently issued reports on FHB. Zacks Research upgraded First Hawaiian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. Piper Sandler upped their target price on shares of First Hawaiian from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, October 27th. Barclays upgraded shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $26.00 to $28.00 in a research note on Tuesday, November 11th. Cowen reissued a “hold” rating on shares of First Hawaiian in a research note on Tuesday, October 28th. Finally, TD Cowen started coverage on shares of First Hawaiian in a report on Thursday, September 25th. They issued a “hold” rating and a $27.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, First Hawaiian presently has a consensus rating of “Hold” and a consensus target price of $27.71.

First Hawaiian Price Performance

FHB stock opened at $26.30 on Tuesday. First Hawaiian has a 1 year low of $20.32 and a 1 year high of $28.28. The company has a market cap of $3.25 billion, a P/E ratio of 12.83, a PEG ratio of 1.65 and a beta of 0.74. The firm has a 50-day moving average of $24.69 and a 200 day moving average of $24.85.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Monday, August 9th. The bank reported $0.44 earnings per share for the quarter. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%.The firm had revenue of $129.16 million for the quarter. On average, equities research analysts expect that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

Insider Activity at First Hawaiian

In other news, insider Alan Arizumi sold 6,566 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.34, for a total transaction of $166,382.44. Following the sale, the insider owned 1,962 shares in the company, valued at $49,717.08. This represents a 76.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its holdings in First Hawaiian by 74.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock worth $25,000 after buying an additional 438 shares in the last quarter. 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. Northwestern Mutual Wealth Management Co. grew its stake in shares of First Hawaiian by 2,916.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after acquiring an additional 1,050 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of First Hawaiian by 11,325.0% during the second quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,359 shares during the last quarter. Finally, Danske Bank A S purchased a new position in shares of First Hawaiian during the third quarter valued at approximately $47,000. Hedge funds and other 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.