JPMorgan Chase & Co. Lowers First Hawaiian (NASDAQ:FHB) Price Target to $23.00

First Hawaiian (NASDAQ:FHB) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $24.00 to $23.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 0.44% from the stock’s previous close.

FHB has been the topic of a number of other reports. The Goldman Sachs Group upped their target price on shares of First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a report on Monday, July 29th. Wells Fargo & Company dropped their price objective on First Hawaiian from $22.00 to $20.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 1st. Keefe, Bruyette & Woods lifted their target price on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Piper Sandler increased their price target on First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Barclays lifted their price objective on shares of First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $24.17.

First Hawaiian Trading Up 1.2 %

Shares of NASDAQ:FHB traded up $0.28 during trading on Wednesday, hitting $22.90. 359,051 shares of the company were exchanged, compared to its average volume of 659,786. First Hawaiian has a fifty-two week low of $17.18 and a fifty-two week high of $26.18. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 13.16 and a beta of 0.98. The firm has a fifty day moving average price of $23.39 and a two-hundred day moving average price of $22.18.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, July 26th. The bank reported $0.48 earnings per share 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 business had revenue of $204.62 million for the quarter, compared to the consensus estimate of $202.94 million. As a group, research analysts predict that First Hawaiian will post 1.79 EPS for the current year.

Institutional Trading of First Hawaiian

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Whittier Trust Co. increased its holdings in First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after buying an additional 507 shares during the period. Versant Capital Management Inc increased its stake in First Hawaiian by 55.7% in the second quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $39,000 after acquiring an additional 678 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in First Hawaiian during the first quarter valued at approximately $42,000. Abich Financial Wealth Management LLC boosted its holdings in shares of First Hawaiian by 48.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock valued at $44,000 after purchasing an additional 652 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 710 shares during the last quarter. Institutional investors and hedge funds 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.