First Hawaiian (NASDAQ:FHB) Price Target Cut to $18.00

First Hawaiian (NASDAQ:FHB) had its target price decreased by Wells Fargo & Company from $20.00 to $18.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the bank’s stock. Wells Fargo & Company‘s price target points to a potential downside of 11.29% from the company’s current price.

Separately, Barclays decreased their price objective on shares of First Hawaiian from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Monday. Three analysts have rated the stock with a sell rating and one has given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $21.00.

First Hawaiian Price Performance

First Hawaiian stock opened at $20.29 on Tuesday. The firm has a fifty day moving average price of $20.95 and a two-hundred day moving average price of $21.40. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 11.66 and a beta of 0.98. First Hawaiian has a fifty-two week low of $17.18 and a fifty-two week high of $23.22.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, April 26th. The bank reported $0.42 EPS 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, sell-side analysts expect that First Hawaiian will post 1.71 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 business. Global Retirement Partners LLC raised its holdings in First Hawaiian by 196.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,253 shares of the bank’s stock worth $27,000 after purchasing an additional 831 shares during the period. GAMMA Investing LLC bought a new stake in shares of First Hawaiian during the fourth quarter worth $37,000. Quent Capital LLC grew its position in First Hawaiian by 86.5% in the fourth quarter. Quent Capital LLC now owns 1,759 shares of the bank’s stock valued at $40,000 after purchasing an additional 816 shares in the last quarter. TFO Wealth Partners LLC grew its position in First Hawaiian by 35,620.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,786 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,781 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new position in First Hawaiian in the first quarter valued at $42,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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.