First Hawaiian (NASDAQ:FHB) Cut to “Hold” at Zacks Investment Research

Posted by on Jun 2nd, 2022

First Hawaiian (NASDAQ:FHB – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “First Hawaiian, Inc. offers banking services to consumer and commercial customers which includes deposit products, lending services and wealth management, insurance, private banking and trust services. First Hawaiian Inc. is based in San Francisco, California. “

Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods cut shares of First Hawaiian from an “outperform” rating to a “market perform” rating and set a $34.00 target price for the company. in a report on Sunday, April 24th. StockNews.com lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Monday, May 23rd. Finally, Wells Fargo & Company dropped their price target on shares of First Hawaiian from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, First Hawaiian presently has an average rating of “Hold” and an average target price of $30.80.

Shares of FHB stock traded down $0.29 during trading on Wednesday, hitting $25.32. 368,868 shares of the stock traded hands, compared to its average volume of 645,353. First Hawaiian has a 52-week low of $23.51 and a 52-week high of $31.16. The firm’s fifty day moving average price is $26.15 and its 200-day moving average price is $27.53. The firm has a market capitalization of $3.24 billion, a P/E ratio of 12.29 and a beta of 1.13.

First Hawaiian (NASDAQ:FHB – Get Rating) last posted its quarterly earnings results on Friday, April 22nd. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. First Hawaiian had a net margin of 36.22% and a return on equity of 10.76%. During the same period in the prior year, the business earned $0.44 earnings per share. On average, equities analysts forecast that First Hawaiian will post 1.85 earnings per share for the current year.

A number of large investors have recently bought and sold shares of FHB. Hsbc Holdings PLC raised its stake in shares of First Hawaiian by 73.8% in the 3rd quarter. Hsbc Holdings PLC now owns 55,919 shares of the bank’s stock valued at $1,656,000 after acquiring an additional 23,740 shares during the period. Vestmark Advisory Solutions Inc. raised its stake in shares of First Hawaiian by 0.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 75,000 shares of the bank’s stock valued at $2,050,000 after acquiring an additional 521 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of First Hawaiian by 2.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,242,717 shares of the bank’s stock valued at $61,293,000 after acquiring an additional 51,831 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of First Hawaiian in the 4th quarter valued at $38,075,000. Finally, Bailard Inc. purchased a new position in shares of First Hawaiian in the 4th quarter valued at $344,000.

About First Hawaiian (Get Rating)

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, including checking and savings accounts, and other deposit accounts.

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