JPMorgan Chase & Co. Has Lowered Expectations for First Hawaiian (NASDAQ:FHB) Stock Price

First Hawaiian (NASDAQ:FHB) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $29.00 to $25.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 0.20% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company increased their target price on shares of First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a report on Monday. Zacks Research lowered shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. TD Cowen reaffirmed a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. Wall Street Zen upgraded First Hawaiian from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Piper Sandler lowered their target price on First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $26.93.

First Hawaiian Price Performance

Shares of FHB opened at $25.05 on Wednesday. The firm has a market cap of $3.08 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.98 and a beta of 0.71. The stock has a 50 day simple moving average of $25.46 and a two-hundred day simple moving average of $25.31. First Hawaiian has a 1 year low of $20.32 and a 1 year high of $28.35.

First Hawaiian (NASDAQ:FHB) last posted its quarterly 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. The firm had revenue of $225.85 million for the quarter, compared to the consensus estimate of $225.33 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same period last year, the firm posted $0.41 earnings per share. On average, equities analysts anticipate that First Hawaiian will post 1.95 earnings per share for the current year.

Insider Transactions at First Hawaiian

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

Institutional Trading of First Hawaiian

Several large investors have recently modified their holdings of the business. 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 valued at $71,800,000 after purchasing an additional 1,644,752 shares during the period. Norges Bank purchased a new stake in First Hawaiian in the 4th quarter worth approximately $40,281,000. AQR Capital Management LLC grew its position in shares of First Hawaiian by 230.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank’s stock worth $54,784,000 after buying an additional 1,539,415 shares during the last quarter. UBS Group AG grew its position 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 worth $28,538,000 after buying an additional 719,312 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of First Hawaiian by 96.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,096,002 shares of the bank’s stock valued at $27,729,000 after buying an additional 537,841 shares during the period. 97.63% of the stock is owned by institutional investors.

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.