First Hawaiian (NASDAQ:FHB) Price Target Raised to $22.00 at Wells Fargo & Company

First Hawaiian (NASDAQ:FHB) had its price target boosted by equities research analysts at Wells Fargo & Company from $21.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 19.18% from the company’s previous close.

FHB has been the topic of several other research reports. The Goldman Sachs Group boosted their target price on First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reduced their price objective on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 9th. Finally, Stephens assumed coverage on First Hawaiian in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 target price for the company. Four research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, First Hawaiian currently has an average rating of “Hold” and a consensus price target of $25.57.

First Hawaiian Stock Down 0.7 %

Shares of FHB traded down $0.18 during trading hours on Tuesday, reaching $27.22. The company’s stock had a trading volume of 6,945 shares, compared to its average volume of 650,042. The company has a 50 day moving average of $25.14 and a two-hundred day moving average of $23.34. First Hawaiian has a 1-year low of $19.48 and a 1-year high of $28.80. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 15.66 and a beta of 0.98.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. raised its holdings in shares of First Hawaiian by 68.7% during the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after acquiring an additional 507 shares during the last quarter. Blue Trust Inc. increased its position in First Hawaiian by 51.5% during the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock worth $43,000 after purchasing an additional 625 shares during the period. GAMMA Investing LLC lifted its stake in First Hawaiian by 50.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,122 shares of the bank’s stock valued at $44,000 after buying an additional 710 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of First Hawaiian during the 3rd quarter worth $51,000. Finally, Abich Financial Wealth Management LLC increased its holdings in First Hawaiian by 32.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock valued at $55,000 after purchasing an additional 644 shares in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

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.