First Hawaiian (NASDAQ:FHB) Price Target Lowered to $20.00 at Wells Fargo & Company

First Hawaiian (NASDAQ:FHB) had its target price lowered by equities researchers at Wells Fargo & Company from $22.00 to $20.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 11.27% from the stock’s current price.

Several other brokerages also recently commented on FHB. JPMorgan Chase & Co. downgraded First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price objective on the stock. in a research report on Monday, July 29th. Barclays increased their price objective on shares of First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Piper Sandler boosted their target price on shares of First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group boosted their price target on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $24.33.

First Hawaiian Price Performance

First Hawaiian stock traded down $0.61 during midday trading on Tuesday, reaching $22.54. 560,368 shares of the company traded hands, compared to its average volume of 665,957. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 12.98 and a beta of 0.98. The business has a 50 day moving average of $23.70 and a two-hundred day moving average of $22.12. First Hawaiian has a 12 month low of $17.18 and a 12 month high of $26.18.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, July 26th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. The company had revenue of $204.62 million for the quarter, compared to the consensus estimate of $202.94 million. As a group, equities analysts forecast that First Hawaiian will post 1.79 EPS for the current year.

Hedge Funds Weigh In On First Hawaiian

A number of large investors have recently bought and sold shares of FHB. Hotchkis & Wiley Capital Management LLC increased its position in shares of First Hawaiian by 124.3% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock worth $58,079,000 after acquiring an additional 1,408,160 shares during the period. Raymond James & Associates raised its holdings in shares of First Hawaiian by 5.5% in the second quarter. Raymond James & Associates now owns 1,079,969 shares of the bank’s stock valued at $22,420,000 after acquiring an additional 56,445 shares in the last quarter. Pinebridge Investments L.P. raised its holdings in shares of First Hawaiian by 101.0% in the 4th quarter. Pinebridge Investments L.P. now owns 136,217 shares of the bank’s stock valued at $3,114,000 after purchasing an additional 68,457 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of First Hawaiian by 2.1% in the 1st quarter. Reinhart Partners LLC. now owns 2,299,222 shares of the bank’s stock worth $50,491,000 after purchasing an additional 48,213 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of First Hawaiian by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank’s stock valued at $334,927,000 after purchasing an additional 87,304 shares in the last quarter. Hedge funds and other 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.