First Hawaiian (FHB) Stock Rating Lowered by Goldman Sachs Group

First Hawaiian (NASDAQ:FHB) was downgraded by equities researchers at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Thursday. They currently have a $32.00 target price on the bank’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 5.44% from the stock’s current price.

FHB has been the subject of several other reports. Zacks Investment Research upgraded First Hawaiian from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. BidaskClub upgraded First Hawaiian from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. Barclays set a $32.00 target price on First Hawaiian and gave the company a “buy” rating in a research note on Wednesday, October 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $34.00 target price on shares of First Hawaiian in a research note on Friday, December 22nd. Finally, UBS Group upped their target price on First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $33.14.

First Hawaiian (NASDAQ FHB) opened at $30.35 on Thursday. First Hawaiian has a 1-year low of $26.30 and a 1-year high of $34.92. The firm has a market capitalization of $4,180.00 and a price-to-earnings ratio of 18.51.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Thursday, October 26th. The bank reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. First Hawaiian had a return on equity of 9.02% and a net margin of 30.22%. The company had revenue of $133.32 million during the quarter, compared to analysts’ expectations of $136.44 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. research analysts anticipate that First Hawaiian will post 1.63 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in FHB. Russell Investments Group Ltd. increased its stake in First Hawaiian by 70.6% during the second quarter. Russell Investments Group Ltd. now owns 23,308 shares of the bank’s stock worth $714,000 after acquiring an additional 9,642 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in First Hawaiian by 5.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 201,061 shares of the bank’s stock worth $6,157,000 after acquiring an additional 10,908 shares during the last quarter. Rhumbline Advisers increased its stake in First Hawaiian by 146.0% during the second quarter. Rhumbline Advisers now owns 47,846 shares of the bank’s stock worth $1,465,000 after acquiring an additional 28,393 shares during the last quarter. State of Wisconsin Investment Board acquired a new stake in First Hawaiian during the second quarter worth about $324,000. Finally, Bank of New York Mellon Corp increased its stake in First Hawaiian by 272.2% during the second quarter. Bank of New York Mellon Corp now owns 898,095 shares of the bank’s stock worth $27,499,000 after acquiring an additional 656,786 shares during the last quarter. Institutional investors own 35.74% of the company’s stock.

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About First Hawaiian

First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.

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