Wall Street Zen Downgrades First Hawaiian (NASDAQ:FHB) to Sell

First Hawaiian (NASDAQ:FHB) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price target on First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research note on Wednesday, July 1st. TD Cowen reduced their price objective on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Wednesday, July 29th. The Goldman Sachs Group raised their target price on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a report on Tuesday, July 7th. Wells Fargo & Company boosted their target price on shares of First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, First Hawaiian currently has an average rating of “Hold” and a consensus price target of $30.12.

First Hawaiian Trading Up 0.8%

NASDAQ:FHB opened at $28.01 on Friday. The stock has a 50 day simple moving average of $28.48 and a 200 day simple moving average of $26.91. The stock has a market cap of $3.41 billion, a P/E ratio of 12.18, a PEG ratio of 1.75 and a beta of 0.73. First Hawaiian has a 1-year low of $22.65 and a 1-year high of $30.58.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, July 24th. The bank reported $0.60 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 analyst estimates of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same quarter last year, the company earned $0.58 EPS. As a group, sell-side analysts forecast that First Hawaiian will post 2.34 EPS for the current year.

Institutional Trading of First Hawaiian

A number of hedge funds have recently added to or reduced their stakes in FHB. Royal Bank of Canada lifted its stake in shares of 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 during the last quarter. Integrated Wealth Concepts LLC grew its position in First Hawaiian by 9.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock worth $246,000 after acquiring an additional 856 shares during the last quarter. United Services Automobile Association acquired a new position in First Hawaiian in the 1st quarter worth about $201,000. Empowered Funds LLC raised its position in First Hawaiian by 10.4% in the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock valued at $401,000 after purchasing an additional 1,542 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in First Hawaiian by 8.1% in the first 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 purchasing an additional 31,686 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

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.