Barclays Raises First Hawaiian (NASDAQ:FHB) Price Target to $30.00

First Hawaiian (NASDAQ:FHB) had its price objective upped by stock analysts at Barclays from $28.00 to $30.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective would indicate a potential downside of 1.27% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company boosted their price target on shares of First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday. Wall Street Zen downgraded First Hawaiian from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. TD Cowen raised their price objective on First Hawaiian from $28.00 to $29.00 and gave the company a “hold” rating in a report on Tuesday, April 28th. The Goldman Sachs Group boosted their target price on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $29.12.

First Hawaiian Stock Performance

First Hawaiian stock traded up $0.05 during midday trading on Tuesday, hitting $30.39. 425,012 shares of the company’s stock were exchanged, compared to its average volume of 1,612,922. First Hawaiian has a 52-week low of $22.65 and a 52-week high of $30.58. The stock has a 50-day moving average price of $27.74 and a two-hundred day moving average price of $26.54. The company has a market cap of $3.70 billion, a P/E ratio of 13.33, a PEG ratio of 2.20 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.The firm had revenue of $220.35 million for the quarter, compared to analysts’ expectations of $223.59 million. During the same quarter last year, the firm posted $0.47 EPS. As a group, sell-side analysts expect that First Hawaiian will post 2.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FHB. Eurizon Capital SGR S.p.A. bought a new stake in First Hawaiian during the 4th quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. raised its position 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 worth $27,000 after acquiring an additional 1,050 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after purchasing an additional 534 shares during the period. Eagle Bay Advisors LLC purchased a new position in shares of First Hawaiian in the 4th quarter valued at approximately $46,000. Finally, Danske Bank A S bought a new stake in shares of First Hawaiian during the third quarter valued at approximately $47,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Company Profile

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.