Piper Sandler Forecasts Strong Price Appreciation for First Hawaiian (NASDAQ:FHB) Stock

First Hawaiian (NASDAQ:FHB) had its price target lifted by analysts at Piper Sandler from $28.00 to $30.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective indicates a potential upside of 7.24% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. 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 research report on Monday. The Goldman Sachs Group upped their price objective on shares of First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price objective on First Hawaiian from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday. Stephens began coverage on First Hawaiian in a research note on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 target price on the stock. Finally, JPMorgan Chase & Co. upped 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. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, First Hawaiian has a consensus rating of “Hold” and an average target price of $28.00.

First Hawaiian Price Performance

First Hawaiian stock traded up $0.36 during trading hours on Monday, reaching $27.98. The stock had a trading volume of 297,341 shares, compared to its average volume of 799,699. The stock has a market cap of $3.58 billion, a PE ratio of 15.58 and a beta of 0.99. The company has a fifty day simple moving average of $26.41 and a 200-day simple 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 issued its quarterly earnings data 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 last year, the company posted $0.37 EPS. Research analysts predict that First Hawaiian will post 1.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Hawaiian

A number of hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC boosted its stake in shares of First Hawaiian by 32.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock worth $74,000 after purchasing an additional 693 shares during the period. Principal Financial Group Inc. boosted its stake in shares of First Hawaiian by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 619,714 shares of the bank’s stock valued at $16,082,000 after purchasing an additional 17,515 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of First Hawaiian in the 4th quarter valued at $386,000. CKW Financial Group raised its stake in shares of First Hawaiian by 1.2% during the 4th quarter. CKW Financial Group now owns 32,600 shares of the bank’s stock worth $846,000 after acquiring an additional 400 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of First Hawaiian by 72.1% in the 4th quarter. KBC Group NV now owns 6,154 shares of the bank’s stock worth $160,000 after purchasing an additional 2,579 shares in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

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.