First Hawaiian (NASDAQ:FHB) Sets New 1-Year High – Here’s Why

First Hawaiian, Inc. (NASDAQ:FHB) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $28.32 and last traded at $28.31, with a volume of 386804 shares changing hands. The stock had previously closed at $27.70.

Analyst Upgrades and Downgrades

FHB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “market perform” rating in a research report on Tuesday, October 28th. Barclays upgraded First Hawaiian from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $26.00 to $28.00 in a research report on Tuesday, November 11th. TD Cowen reduced their price target on First Hawaiian from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, January 7th. The Goldman Sachs Group set a $27.50 price objective on First Hawaiian and gave the company a “sell” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of First Hawaiian in a report on Monday, December 29th. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $27.64.

First Hawaiian Trading Up 0.8%

The company has a 50 day simple moving average of $25.71 and a two-hundred day simple moving average of $25.20. The firm has a market capitalization of $3.46 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.86 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, October 24th. The bank reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $226.39 million for the quarter, compared to the consensus estimate of $218.22 million. First Hawaiian had a net margin of 22.60% and a return on equity of 9.68%. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, sell-side analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

Insider Activity at First Hawaiian

In other First Hawaiian news, insider Alan Arizumi sold 36,460 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.35, for a total transaction of $924,261.00. Following the completion of the transaction, the insider owned 37,508 shares of the company’s stock, valued at $950,827.80. This represents a 49.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Hawaiian

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in shares of First Hawaiian by 74.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock valued at $25,000 after acquiring an additional 438 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of First Hawaiian by 2,916.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,050 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of First Hawaiian by 11,325.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock worth $34,000 after purchasing an additional 1,359 shares during the period. Danske Bank A S bought a new position in shares of First Hawaiian during the 3rd quarter valued at approximately $47,000. Finally, CIBC Private Wealth Group LLC bought a new position in shares of First Hawaiian during the 3rd quarter valued at approximately $48,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

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.