The Goldman Sachs Group Issues Positive Forecast for First Hawaiian (NASDAQ:FHB) Stock Price

First Hawaiian (NASDAQ:FHB - Get Free Report) had its target price hoisted by investment analysts at The Goldman Sachs Group from $22.00 to $26.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "sell" rating on the bank's stock. The Goldman Sachs Group's price target would indicate a potential downside of 6.07% from the stock's current price.

A number of other analysts have also issued reports on the company. Piper Sandler boosted their target price on First Hawaiian from $22.00 to $27.00 and gave the company a "neutral" rating in a research report on Monday, July 29th. Barclays increased their target price 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. JPMorgan Chase & Co. dropped their target price on First Hawaiian from $24.00 to $23.00 and set an "underweight" rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $20.00 to $21.00 and gave the company an "underweight" rating in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods upped their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the stock a "market perform" rating in a research note on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $24.67.

First Hawaiian Stock Performance

Shares of First Hawaiian stock traded down $0.48 during trading hours on Tuesday, hitting $27.68. The company's stock had a trading volume of 900,929 shares, compared to its average volume of 653,603. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 16.09 and a beta of 0.96. First Hawaiian has a twelve month low of $18.77 and a twelve month high of $28.80. The firm has a fifty day moving average of $24.76 and a 200-day moving average of $23.15.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FHB. The Manufacturers Life Insurance Company grew its stake in 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 buying an additional 942,634 shares during the last quarter. AQR Capital Management LLC grew its stake in 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 buying an additional 397,897 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 buying an additional 370,722 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in First Hawaiian by 96.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 478,262 shares of the bank's stock worth $11,072,000 after buying an additional 235,253 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in 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 buying an additional 203,407 shares during 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.