Piper Sandler Cuts First Hawaiian (NASDAQ:FHB) Price Target to $25.00

First Hawaiian (NASDAQ:FHB) had its price target reduced by stock analysts at Piper Sandler from $27.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target would indicate a potential upside of 2.02% from the company’s current price.

Several other brokerages have also weighed in on FHB. JPMorgan Chase & Co. cut their price objective on shares of First Hawaiian from $29.00 to $25.00 and set an “underweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company raised their price target on shares of First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a report on Monday. TD Cowen reiterated a “hold” rating on shares of First Hawaiian in a report on Monday, February 2nd. The Goldman Sachs Group set a $27.50 target price on First Hawaiian and gave the company a “sell” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $26.93.

First Hawaiian Stock Down 1.9%

First Hawaiian stock opened at $24.51 on Thursday. First Hawaiian has a 12 month low of $20.32 and a 12 month high of $28.35. The stock has a market cap of $3.01 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.95 and a beta of 0.71. The company’s fifty day simple moving average is $25.52 and its 200-day simple moving average is $25.31.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, January 30th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.The firm had revenue of $225.85 million during the quarter, compared to analysts’ expectations of $225.33 million. During the same quarter last year, the firm earned $0.41 earnings per share. On average, equities research analysts expect that First Hawaiian will post 1.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Hawaiian

Several hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in First Hawaiian by 8.6% in the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock valued at $4,041,000 after acquiring an additional 13,071 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in First Hawaiian by 9.3% in the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock worth $246,000 after purchasing an additional 856 shares during the period. United Services Automobile Association bought a new stake in First Hawaiian in the 1st quarter valued at $201,000. Empowered Funds LLC raised its stake in shares of First Hawaiian by 10.4% in the 1st quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock valued at $401,000 after buying an additional 1,542 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of First Hawaiian by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock valued at $10,389,000 after buying an additional 31,686 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

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.