First Hawaiian (NASDAQ:FHB) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

First Hawaiian (NASDAQ:FHB) had its price target increased by analysts at The Goldman Sachs Group from $22.00 to $26.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the bank’s stock. The Goldman Sachs Group’s price target indicates a potential downside of 5.80% from the stock’s previous close.

Several other brokerages have also commented on FHB. JPMorgan Chase & Co. dropped their price target on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 9th. Barclays upped their price target on First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods upped their price target 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 raised their target price on First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company upped their price target on First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, First Hawaiian currently has an average rating of “Hold” and a consensus price target of $25.43.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $27.60 on Tuesday. The firm has a market capitalization of $3.53 billion, a PE ratio of 15.77 and a beta of 0.96. The business has a 50-day moving average of $24.92 and a two-hundred day moving average of $23.22. First Hawaiian has a 12 month low of $18.85 and a 12 month high of $28.80.

Institutional Trading of First Hawaiian

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James & Associates increased its stake 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 worth $22,420,000 after buying an additional 56,445 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of First Hawaiian by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock worth $218,025,000 after buying an additional 942,634 shares during the last quarter. American Century Companies Inc. increased its stake in shares of First Hawaiian by 6.5% in the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after buying an additional 203,407 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of First Hawaiian by 100.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the bank’s stock worth $80,000 after buying an additional 1,943 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of First Hawaiian in the second quarter worth $462,000. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Company Profile

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.