First Hawaiian (NASDAQ:FHB) Price Target Cut to $24.00

First Hawaiian (NASDAQ:FHB) had its target price reduced by research analysts at JPMorgan Chase & Co. from $25.50 to $24.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 18.28% from the stock’s current price.

FHB has been the subject of a number of other research reports. Barclays lowered their price target on First Hawaiian from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday. Wells Fargo & Company cut their target price on First Hawaiian from $20.00 to $18.00 and set an “underweight” rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $21.50.

First Hawaiian Stock Performance

FHB stock remained flat at $20.29 during trading on Thursday. 35,694 shares of the company traded hands, compared to its average volume of 650,137. The company has a market capitalization of $2.59 billion, a PE ratio of 11.66 and a beta of 0.98. The company has a fifty day moving average price of $20.95 and a 200 day moving average price of $21.40. First Hawaiian has a 12-month low of $17.18 and a 12-month high of $23.22.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, April 26th. The bank reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $205.80 million during the quarter, compared to analyst estimates of $202.41 million. First Hawaiian had a net margin of 19.20% and a return on equity of 9.16%. As a group, analysts predict that First Hawaiian will post 1.71 earnings per share for the current year.

Institutional Trading of First Hawaiian

Several hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC increased its stake in shares of First Hawaiian by 196.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,253 shares of the bank’s stock valued at $27,000 after purchasing an additional 831 shares during the period. GAMMA Investing LLC acquired a new stake in shares of First Hawaiian during the 4th quarter valued at $37,000. Quent Capital LLC boosted its position in shares of First Hawaiian by 86.5% in the 4th quarter. Quent Capital LLC now owns 1,759 shares of the bank’s stock valued at $40,000 after purchasing an additional 816 shares during the period. TFO Wealth Partners LLC increased its position in shares of First Hawaiian by 35,620.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,786 shares of the bank’s stock worth $41,000 after acquiring an additional 1,781 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in First Hawaiian during the 1st quarter worth approximately $42,000. Institutional investors 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.