JPMorgan Chase & Co. Cuts First Hawaiian (NASDAQ:FHB) Price Target to $25.00

First Hawaiian (NASDAQ:FHB) had its price target cut by analysts at JPMorgan Chase & Co. from $29.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 0.10% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Zacks Research downgraded shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Wells Fargo & Company increased their price objective on shares of First Hawaiian from $24.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday. TD Cowen reaffirmed a “hold” rating on shares of First Hawaiian in a research report on Monday, February 2nd. The Goldman Sachs Group set a $27.50 target price on First Hawaiian and gave the stock a “sell” rating in a report on Tuesday, January 6th. Finally, Piper Sandler reduced their price target on First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, First Hawaiian currently has a consensus rating of “Reduce” and an average target price of $27.21.

First Hawaiian Stock Performance

NASDAQ FHB traded up $0.34 during trading on Wednesday, hitting $24.98. The stock had a trading volume of 801,073 shares, compared to its average volume of 1,506,598. First Hawaiian has a 12 month low of $20.32 and a 12 month high of $28.35. The company’s 50-day moving average price is $25.57 and its two-hundred day moving average price is $25.31. The company has a market capitalization of $3.07 billion, a PE ratio of 11.35, a P/E/G ratio of 1.91 and a beta of 0.71.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, January 30th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $225.85 million during the quarter, compared to analysts’ expectations of $225.33 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same period last year, the business earned $0.41 EPS. As a group, equities analysts anticipate that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $27.21, for a total transaction of $40,815.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On First Hawaiian

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Fund Management S.A. bought a new stake in shares of First Hawaiian in the second quarter valued at approximately $1,098,000. Elo Mutual Pension Insurance Co raised its holdings in First Hawaiian by 94.2% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 51,139 shares of the bank’s stock valued at $1,270,000 after acquiring an additional 24,805 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of First Hawaiian by 840.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 92,268 shares of the bank’s stock valued at $2,291,000 after acquiring an additional 82,453 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of First Hawaiian by 11.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,325,860 shares of the bank’s stock valued at $33,093,000 after acquiring an additional 135,809 shares during the period. Finally, AlphaQuest LLC grew its holdings in shares of First Hawaiian by 7,621.5% during the 3rd quarter. AlphaQuest LLC now owns 168,484 shares of the bank’s stock worth $4,183,000 after purchasing an additional 166,302 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

About First Hawaiian

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.