First Hawaiian (NASDAQ:FHB) Shares Gap Up - Should You Buy?

First Hawaiian, Inc. (NASDAQ:FHB - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $23.99, but opened at $24.92. First Hawaiian shares last traded at $24.41, with a volume of 25,320 shares traded.

Wall Street Analysts Forecast Growth

FHB has been the subject of a number of recent research reports. Barclays boosted their price objective on First Hawaiian from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Monday, July 29th. Wells Fargo & Company reduced their price objective on shares of First Hawaiian from $22.00 to $20.00 and set an "underweight" rating for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price objective 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. Keefe, Bruyette & Woods boosted their price target on First Hawaiian from $25.00 to $26.00 and gave the stock a "market perform" rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group boosted their target price on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a "sell" rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, First Hawaiian presently has a consensus rating of "Reduce" and a consensus price target of $24.17.

First Hawaiian Trading Down 0.1 %

The business has a 50-day moving average price of $23.49 and a 200 day moving average price of $22.36. The stock has a market capitalization of $3.06 billion, a P/E ratio of 13.79 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings data on Friday, July 26th. The bank reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.06. The business had revenue of $204.62 million during the quarter, compared to analysts' expectations of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. On average, sell-side analysts predict that First Hawaiian, Inc. will post 1.78 earnings per share for the current fiscal year.

Institutional Trading of First Hawaiian

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its position in First Hawaiian by 5.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank's stock valued at $237,000 after purchasing an additional 488 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of First Hawaiian by 68.7% in the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank's stock valued at $26,000 after acquiring an additional 507 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in First Hawaiian by 8.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank's stock worth $163,000 after acquiring an additional 550 shares during the period. Blue Trust Inc. grew its holdings in First Hawaiian by 51.5% during the 3rd 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 raised its holdings in shares of First Hawaiian by 32.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank's stock valued at $55,000 after purchasing an additional 644 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.