First Hawaiian (NASDAQ:FHB) Price Target Raised to $30.00 at The Goldman Sachs Group

First Hawaiian (NASDAQ:FHB) had its price objective increased by equities research analysts at The Goldman Sachs Group from $27.00 to $30.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the bank’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 1.12% from the stock’s current price.

Several other research firms also recently issued reports on FHB. TD Cowen lifted their price objective on First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Tuesday, April 28th. Piper Sandler raised their price target on shares of First Hawaiian from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Stephens set a $28.00 price target on shares of First Hawaiian in a report on Monday, April 27th. Wells Fargo & Company increased their price objective on shares of First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $28.88.

First Hawaiian Price Performance

NASDAQ:FHB opened at $30.34 on Tuesday. The firm has a 50-day moving average of $27.74 and a two-hundred day moving average of $26.54. The stock has a market cap of $3.69 billion, a P/E ratio of 13.31, a PEG ratio of 2.20 and a beta of 0.72. First Hawaiian has a 1-year low of $22.65 and a 1-year high of $30.56.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, April 24th. The bank reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.The business had revenue of $220.35 million for the quarter, compared to analyst estimates of $223.59 million. During the same period in the previous year, the company earned $0.47 earnings per share. As a group, equities analysts expect that First Hawaiian will post 2.34 earnings per share for the current year.

Institutional Trading of First Hawaiian

Several hedge funds have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund boosted its position in First Hawaiian by 0.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock valued at $1,602,000 after purchasing an additional 397 shares during the period. Evolve Private Wealth LLC increased its position in First Hawaiian by 1.6% in the first quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock worth $643,000 after buying an additional 406 shares during the period. GAMMA Investing LLC lifted its stake in First Hawaiian by 9.4% in the fourth quarter. GAMMA Investing LLC now owns 5,626 shares of the bank’s stock valued at $142,000 after buying an additional 485 shares during the last quarter. Parallel Advisors LLC lifted its stake in First Hawaiian by 11.3% in the first quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock valued at $127,000 after buying an additional 525 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of First Hawaiian by 45.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after acquiring an additional 534 shares during the period. 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.