Wells Fargo & Company Raises First Hawaiian (NASDAQ:FHB) Price Target to $21.00

First Hawaiian (NASDAQ:FHB - Get Free Report) had its target price upped by analysts at Wells Fargo & Company from $20.00 to $21.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an "underweight" rating on the bank's stock. Wells Fargo & Company's price target suggests a potential downside of 15.83% from the stock's previous close.

A number of other research analysts have also weighed in on the company. Keefe, Bruyette & Woods raised their price objective on First Hawaiian from $25.00 to $26.00 and gave the company a "market perform" rating in a research report on Monday, July 29th. JPMorgan Chase & Co. reduced their price target on shares of First Hawaiian from $24.00 to $23.00 and set an "underweight" rating on the stock in a research report on Wednesday, October 9th. 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 note on Monday, July 29th. The Goldman Sachs Group upped their price objective on First Hawaiian from $21.00 to $24.00 and gave the company a "sell" rating in a research report on Monday, July 29th. Finally, Piper Sandler lifted their target price on First Hawaiian from $22.00 to $27.00 and gave the stock a "neutral" rating in a report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $24.33.

First Hawaiian Trading Up 4.1 %

NASDAQ FHB traded up $0.99 during trading hours on Monday, hitting $24.95. 720,193 shares of the company's stock traded hands, compared to its average volume of 652,004. The business's fifty day moving average price is $23.50 and its two-hundred day moving average price is $22.39. The firm has a market capitalization of $3.19 billion, a P/E ratio of 14.17 and a beta of 0.98. First Hawaiian has a 52 week low of $17.64 and a 52 week high of $26.18.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its earnings results on Friday, October 25th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. The company had revenue of $210.00 million during the quarter, compared to analyst estimates of $204.83 million. On average, sell-side analysts expect that First Hawaiian will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On First Hawaiian

A number of institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in First Hawaiian by 5.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank's stock worth $237,000 after buying an additional 488 shares during the period. Whittier Trust Co. lifted its holdings in shares of First Hawaiian by 68.7% during the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank's stock valued at $26,000 after purchasing an additional 507 shares during the last quarter. PNC Financial Services Group Inc. increased its position in First Hawaiian by 8.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank's stock valued at $163,000 after buying an additional 550 shares in the last quarter. Blue Trust Inc. boosted its holdings in First Hawaiian by 51.5% in the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank's stock worth $43,000 after acquiring an additional 625 shares in the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in shares of First Hawaiian by 32.5% during the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank's stock worth $55,000 after acquiring an additional 644 shares during the last quarter. 97.63% of the stock is 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.