Wells Fargo & Company Raises First Hawaiian (NASDAQ:FHB) Price Target to $21.00

First Hawaiian (NASDAQ:FHB) had its price target hoisted by investment analysts at Wells Fargo & Company from $20.00 to $21.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. Wells Fargo & Company‘s target price points to a potential downside of 14.81% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group lifted their price target on First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price objective on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Piper Sandler lifted their price objective on First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Barclays lifted their price objective on First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, First Hawaiian presently has a consensus rating of “Reduce” and an average price target of $24.33.

First Hawaiian Trading Up 2.9 %

First Hawaiian stock traded up $0.69 on Monday, hitting $24.65. 245,983 shares of the stock traded hands, compared to its average volume of 649,645. The firm has a market cap of $3.15 billion, a P/E ratio of 14.26 and a beta of 0.98. The business’s fifty day simple moving average is $23.50 and its 200 day simple moving average is $22.39. First Hawaiian has a 1 year low of $17.64 and a 1 year high of $26.18.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, October 25th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. The firm had revenue of $210.00 million during the quarter, compared to analyst estimates of $204.83 million. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. As a group, analysts predict that First Hawaiian will post 1.77 earnings per share for the current year.

Hedge Funds Weigh In On First Hawaiian

Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in shares of First Hawaiian by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock worth $218,025,000 after purchasing an additional 942,634 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of First Hawaiian by 958.2% during the 2nd quarter. AQR Capital Management LLC now owns 439,423 shares of the bank’s stock worth $9,043,000 after purchasing an additional 397,897 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Hawaiian by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock worth $108,057,000 after purchasing an additional 370,722 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of First Hawaiian by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after purchasing an additional 203,407 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of First Hawaiian by 187.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 243,009 shares of the bank’s stock worth $5,045,000 after purchasing an additional 158,327 shares during the last quarter. 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.