First Hawaiian (FHB) Price Target Cut to $26.00

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First Hawaiian (NASDAQ:FHB) had its price target cut by equities research analysts at Citigroup from $32.00 to $26.00 in a report released on Monday. The firm presently has a “neutral” rating on the bank’s stock. Citigroup’s target price points to a potential upside of 5.86% from the company’s previous close.

A number of other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of First Hawaiian from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Wells Fargo & Co set a $29.00 target price on shares of First Hawaiian and gave the stock a “hold” rating in a report on Tuesday, October 2nd. ValuEngine downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Finally, BidaskClub downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $31.44.

NASDAQ FHB opened at $24.56 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. First Hawaiian has a 12 month low of $22.91 and a 12 month high of $32.36. The company has a market capitalization of $3.17 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50.

In other news, Director Paribas Bnp sold 20,000,000 shares of First Hawaiian stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $28.70, for a total value of $574,000,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of First Hawaiian by 117.2% in the second quarter. FMR LLC now owns 9,109,111 shares of the bank’s stock worth $264,346,000 after acquiring an additional 4,916,096 shares in the last quarter. BlackRock Inc. increased its position in shares of First Hawaiian by 97.4% in the second quarter. BlackRock Inc. now owns 4,679,481 shares of the bank’s stock worth $135,798,000 after acquiring an additional 2,309,230 shares in the last quarter. Villere ST Denis J & Co. LLC increased its position in shares of First Hawaiian by 2.7% in the third quarter. Villere ST Denis J & Co. LLC now owns 2,758,767 shares of the bank’s stock worth $74,928,000 after acquiring an additional 73,360 shares in the last quarter. Citadel Advisors LLC increased its position in shares of First Hawaiian by 8,096.9% in the second quarter. Citadel Advisors LLC now owns 1,712,256 shares of the bank’s stock worth $49,690,000 after acquiring an additional 1,691,367 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its position in shares of First Hawaiian by 13.7% in the third quarter. Deprince Race & Zollo Inc. now owns 1,231,656 shares of the bank’s stock worth $33,452,000 after acquiring an additional 148,630 shares in the last quarter. 51.00% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Company Profile

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

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Analyst Recommendations for First Hawaiian (NASDAQ:FHB)

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