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

First Hawaiian (NASDAQ:FHB) had its target price boosted by equities researchers at Piper Sandler from $28.00 to $30.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target would suggest a potential upside of 7.24% from the company’s current price.

FHB has been the topic of a number of other research reports. Wells Fargo & Company raised their price objective on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on shares of First Hawaiian from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Stephens started coverage on First Hawaiian in a report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price target on the stock. The Goldman Sachs Group lifted their price objective on First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a research note on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods upped their target price on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, First Hawaiian has a consensus rating of “Hold” and a consensus target price of $28.00.

First Hawaiian Stock Up 1.3 %

Shares of FHB traded up $0.36 during mid-day trading on Monday, reaching $27.98. The company had a trading volume of 297,341 shares, compared to its average volume of 799,699. The stock has a market capitalization of $3.58 billion, a P/E ratio of 15.58 and a beta of 0.99. The stock has a 50 day moving average of $26.41 and a two-hundred day moving average of $25.03. First Hawaiian has a 52-week low of $19.48 and a 52-week high of $28.80.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same period in the previous year, the business posted $0.37 earnings per share. On average, sell-side analysts expect that First Hawaiian will post 1.74 earnings per share for the current year.

Hedge Funds Weigh In On First Hawaiian

Several large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its position in First Hawaiian by 96.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 478,262 shares of the bank’s stock valued at $11,072,000 after purchasing an additional 235,253 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of First Hawaiian during the third quarter worth about $3,736,000. FMR LLC raised its stake in First Hawaiian by 20.3% during the 3rd quarter. FMR LLC now owns 913,400 shares of the bank’s stock valued at $21,145,000 after acquiring an additional 154,136 shares during the last quarter. Reinhart Partners LLC. lifted its position in First Hawaiian by 6.1% during the 3rd quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock worth $56,980,000 after acquiring an additional 141,327 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of First Hawaiian by 1.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock valued at $245,963,000 after purchasing an additional 122,599 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.