First Hawaiian (NASDAQ:FHB) Shares Gap Up – Still a Buy?

First Hawaiian, Inc. (NASDAQ:FHB)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $23.99, but opened at $24.92. First Hawaiian shares last traded at $24.41, with a volume of 25,320 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FHB shares. Wells Fargo & Company dropped their price objective on shares of First Hawaiian from $22.00 to $20.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 1st. The Goldman Sachs Group upped their price objective on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. dropped their price target on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Barclays upped their price target on shares of First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, First Hawaiian currently has a consensus rating of “Reduce” and a consensus target price of $24.17.

First Hawaiian Trading Up 0.4 %

The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 13.79 and a beta of 0.98. The company has a fifty day moving average price of $23.49 and a two-hundred day moving average price of $22.36.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, July 26th. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.06. The company had revenue of $204.62 million for the quarter, compared to analyst estimates of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. As a group, equities research analysts expect that First Hawaiian, Inc. will post 1.78 earnings per share for the current year.

Institutional Investors Weigh In On First Hawaiian

A number of institutional investors and hedge funds have recently made changes to their positions in FHB. Whittier Trust Co. increased its holdings in First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after purchasing an additional 507 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of First Hawaiian by 51.5% in the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock valued at $43,000 after buying an additional 625 shares during the period. Versant Capital Management Inc lifted its stake in First Hawaiian by 55.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock worth $39,000 after acquiring an additional 678 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in First Hawaiian during the 1st quarter valued at about $42,000. Finally, Abich Financial Wealth Management LLC grew its position in First Hawaiian by 48.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock valued at $44,000 after acquiring an additional 652 shares in the last quarter. 97.63% of the stock is 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.