UBS Group Downgrades First Hawaiian (NASDAQ:FHB) to Sell

First Hawaiian (NASDAQ:FHB) was downgraded by investment analysts at UBS Group from a “neutral” rating to a “sell” rating in a report released on Monday, MarketBeat Ratings reports. They currently have a $13.00 price objective on the bank’s stock, down from their previous price objective of $15.00. UBS Group’s price objective would suggest a potential downside of 24.59% from the stock’s current price.

A number of other analysts have also commented on the company. Compass Point raised First Hawaiian from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Monday, April 27th. Bank of America upgraded First Hawaiian from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $23.00 in a research report on Monday, June 8th. TheStreet downgraded First Hawaiian from a “b” rating to a “c+” rating in a research report on Monday, March 9th. Keefe, Bruyette & Woods downgraded First Hawaiian from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a research report on Wednesday, April 1st. Finally, BidaskClub upgraded First Hawaiian from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $21.50.

Shares of FHB stock opened at $17.24 on Monday. The business’s 50-day moving average price is $17.04 and its 200-day moving average price is $22.00. First Hawaiian has a 12 month low of $13.56 and a 12 month high of $31.25. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 8.98 and a beta of 1.34. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, April 24th. The bank reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). First Hawaiian had a net margin of 29.48% and a return on equity of 9.73%. The firm had revenue of $187.91 million for the quarter, compared to analyst estimates of $188.14 million. During the same period in the previous year, the business posted $0.53 earnings per share. On average, sell-side analysts predict that First Hawaiian will post 1.15 earnings per share for the current fiscal year.

In other First Hawaiian news, CFO Ravi Mallela bought 3,290 shares of the stock in a transaction on Monday, May 18th. The stock was acquired at an average cost of $14.87 per share, for a total transaction of $48,922.30. Insiders own 0.57% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FHB. Twin Tree Management LP bought a new stake in shares of First Hawaiian during the first quarter valued at approximately $40,000. FinTrust Capital Advisors LLC bought a new stake in shares of First Hawaiian during the first quarter valued at approximately $61,000. Advisor Group Holdings Inc. bought a new stake in shares of First Hawaiian during the first quarter valued at approximately $80,000. Metropolitan Life Insurance Co NY increased its holdings in shares of First Hawaiian by 21.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 3,192 shares of the bank’s stock valued at $83,000 after acquiring an additional 564 shares in the last quarter. Finally, OLD National Bancorp IN increased its holdings in shares of First Hawaiian by 51.4% during the first quarter. OLD National Bancorp IN now owns 10,569 shares of the bank’s stock valued at $175,000 after acquiring an additional 3,589 shares in the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

About First Hawaiian

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 in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, including checking and savings accounts, and time deposit accounts.

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Analyst Recommendations for First Hawaiian (NASDAQ:FHB)

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