First Hawaiian (NASDAQ:FHB) Price Target Cut to $26.00 by Analysts at Wells Fargo & Company

First Hawaiian (NASDAQ:FHB) had its price objective reduced by research analysts at Wells Fargo & Company from $28.00 to $26.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the bank’s stock. Wells Fargo & Company‘s target price points to a potential upside of 5.17% from the company’s current price.

FHB has been the topic of several other research reports. Barclays upped their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Zacks Research downgraded shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Benchmark reiterated a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, TD Cowen reduced their price objective on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $30.00.

First Hawaiian Stock Down 0.4%

FHB traded down $0.10 during trading on Wednesday, hitting $24.72. The company’s stock had a trading volume of 207,742 shares, compared to its average volume of 1,817,929. First Hawaiian has a twelve month low of $22.65 and a twelve month high of $30.58. The stock’s fifty day moving average price is $26.56 and its 200-day moving average price is $26.91. The firm has a market capitalization of $3.01 billion, a P/E ratio of 10.75, a PEG ratio of 1.56 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $231.27 million for the quarter, compared to analysts’ expectations of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same period in the prior year, the business earned $0.58 EPS. Equities research analysts expect that First Hawaiian will post 2.37 EPS for the current fiscal year.

Hedge Funds Weigh In On First Hawaiian

Several institutional investors have recently bought and sold shares of the company. Anchor Investment Management LLC bought a new position in First Hawaiian during the second quarter valued at $30,000. Integrated Wealth Concepts LLC raised its stake in shares of First Hawaiian by 10.9% in the second quarter. Integrated Wealth Concepts LLC now owns 18,092 shares of the bank’s stock valued at $530,000 after buying an additional 1,773 shares during the period. NewEdge Advisors LLC purchased a new position in shares of First Hawaiian during the 2nd quarter valued at $252,000. IFP Advisors Inc lifted its position in shares of First Hawaiian by 17.9% during the 2nd quarter. IFP Advisors Inc now owns 3,231 shares of the bank’s stock valued at $95,000 after buying an additional 491 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in First Hawaiian by 150.3% in the 2nd quarter. Allworth Financial LP now owns 7,504 shares of the bank’s stock worth $220,000 after acquiring an additional 4,506 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

About First Hawaiian

First Hawaiian, Inc (NASDAQ: FHB) is the holding company for First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858 as Bishop & Company, First Hawaiian Bank is the oldest bank in Hawaii and provides banking and financial services to consumers, businesses and government organizations.

The bank offers deposit accounts, residential and commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.