First Hawaiian (NASDAQ:FHB) Downgraded by JPMorgan Chase & Co.

First Hawaiian (NASDAQ:FHB) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Monday, Marketbeat.com reports. They presently have a $24.00 price objective on the bank’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 4.99% from the company’s previous close.

Several other research firms also recently issued reports on FHB. Wells Fargo & Company cut their price objective on shares of First Hawaiian from $20.00 to $18.00 and set an “underweight” rating on the stock in a report on Tuesday, June 25th. Barclays cut 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 report on Monday, June 24th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, First Hawaiian presently has a consensus rating of “Reduce” and an average price target of $24.67.

First Hawaiian Stock Performance

FHB stock opened at $25.26 on Monday. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 14.52 and a beta of 0.99. The firm has a 50-day simple moving average of $21.46 and a two-hundred day simple moving average of $21.47. First Hawaiian has a one year low of $17.18 and a one year high of $26.18.

Hedge Funds Weigh In On First Hawaiian

Hedge funds and other institutional investors have recently bought and sold shares of the business. Whittier Trust Co. grew its stake in shares of First Hawaiian by 68.7% during the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after purchasing an additional 507 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of First Hawaiian by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 56,400 shares of the bank’s stock worth $1,289,000 after purchasing an additional 550 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of First Hawaiian by 8.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank’s stock worth $163,000 after purchasing an additional 550 shares during the period. Abich Financial Wealth Management LLC grew its stake in shares of First Hawaiian by 48.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock worth $44,000 after purchasing an additional 652 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of First Hawaiian by 55.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $39,000 after buying an additional 678 shares in the last quarter. Institutional investors and hedge funds own 97.63% 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 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.