TD Cowen Lowers First Hawaiian (NASDAQ:FHB) Price Target to $28.00

First Hawaiian (NASDAQ:FHB) had its target price dropped by equities research analysts at TD Cowen from $29.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. TD Cowen’s price target suggests a potential upside of 3.05% from the stock’s current price.

A number of other brokerages have also recently issued reports on FHB. The Goldman Sachs Group set a $27.50 price objective on shares of First Hawaiian and gave the company a “sell” rating in a research note on Tuesday. Barclays raised First Hawaiian from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $26.00 to $28.00 in a report on Tuesday, November 11th. Keefe, Bruyette & Woods boosted their price target on First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a report on Tuesday, October 28th. Cowen reaffirmed a “hold” rating on shares of First Hawaiian in a research note on Tuesday, October 28th. Finally, Piper Sandler lifted their target price on First Hawaiian from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. Seven investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, First Hawaiian currently has a consensus rating of “Reduce” and a consensus price target of $27.64.

First Hawaiian Stock Up 3.2%

FHB stock opened at $27.17 on Wednesday. First Hawaiian has a 52 week low of $20.32 and a 52 week high of $28.28. The business has a 50-day simple moving average of $25.34 and a 200 day simple moving average of $25.11. The company has a market cap of $3.36 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.63 and a beta of 0.73.

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

Insider Activity at First Hawaiian

In other news, insider Alan Arizumi sold 6,566 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.34, for a total transaction of $166,382.44. Following the sale, the insider directly owned 1,962 shares in the company, valued at approximately $49,717.08. The trade was a 76.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FHB. Sequoia Financial Advisors LLC bought a new position in First Hawaiian during the 2nd quarter worth approximately $338,000. Capital Fund Management S.A. acquired a new stake in shares of First Hawaiian during the second quarter worth $1,098,000. Arrowstreet Capital Limited Partnership increased its position in shares of First Hawaiian by 11.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,325,860 shares of the bank’s stock worth $33,093,000 after buying an additional 135,809 shares during the period. D.A. Davidson & CO. raised its stake in First Hawaiian by 11.2% during the second quarter. D.A. Davidson & CO. now owns 15,104 shares of the bank’s stock worth $375,000 after buying an additional 1,519 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in First Hawaiian in the first quarter valued at $460,000. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.