Piper Sandler Has Lowered Expectations for First Hawaiian (NASDAQ:FHB) Stock Price

First Hawaiian (NASDAQ:FHB) had its price target dropped by equities research analysts at Piper Sandler from $28.00 to $27.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective indicates a potential upside of 1.73% from the company’s previous close.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. increased their target price on First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Hawaiian in a report on Monday, December 29th. The Goldman Sachs Group set a $27.50 target price on shares of First Hawaiian and gave the company a “sell” rating in a research note on Tuesday, January 6th. Finally, TD Cowen lowered their price target on First Hawaiian from $29.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, January 7th. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $27.50.

First Hawaiian Stock Up 0.6%

NASDAQ:FHB opened at $26.54 on Monday. The firm’s fifty day simple moving average is $26.21 and its 200 day simple moving average is $25.28. The stock has a market cap of $3.28 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.87 and a beta of 0.73. First Hawaiian has a twelve month low of $20.32 and a twelve month high of $28.35.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, January 30th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. The firm had revenue of $199.68 million during the quarter, compared to analysts’ expectations of $225.33 million. During the same period last year, the company posted $0.41 EPS. On average, analysts expect that First Hawaiian will post 1.95 EPS for the current fiscal year.

Insider Transactions at First Hawaiian

In other First Hawaiian news, insider Alan Arizumi sold 6,566 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $25.34, for a total transaction of $166,382.44. Following the completion of the transaction, the insider owned 1,962 shares in the company, valued at $49,717.08. The trade was a 76.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by insiders.

Institutional Trading of First Hawaiian

Large investors have recently modified their holdings of the company. American Century Companies Inc. increased its holdings in First Hawaiian by 131.9% during the 3rd quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank’s stock worth $71,800,000 after purchasing an additional 1,644,752 shares during the period. AQR Capital Management LLC lifted its stake in First Hawaiian by 230.8% in the third quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank’s stock worth $54,784,000 after acquiring an additional 1,539,415 shares during the period. Norges Bank purchased a new position in First Hawaiian during the 2nd quarter valued at about $35,362,000. UBS Group AG raised its holdings in shares of First Hawaiian by 176.0% in the 4th quarter. UBS Group AG now owns 1,128,002 shares of the bank’s stock valued at $28,538,000 after purchasing an additional 719,312 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of First Hawaiian by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock worth $365,777,000 after purchasing an additional 358,632 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 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.