BidaskClub Upgrades First Hawaiian (NASDAQ:FHB) to Strong-Buy

First Hawaiian (NASDAQ:FHB) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday, BidAskClub reports.

A number of other research firms also recently weighed in on FHB. ValuEngine downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research downgraded shares of First Hawaiian from a “buy” rating to a “hold” rating in a research note on Tuesday. TheStreet upgraded shares of First Hawaiian from a “c” rating to a “b-” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. downgraded shares of First Hawaiian from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $26.50 to $26.00 in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $27.25.

FHB traded up $0.10 during trading on Friday, reaching $27.64. 340,435 shares of the company’s stock were exchanged, compared to its average volume of 736,689. First Hawaiian has a fifty-two week low of $21.19 and a fifty-two week high of $28.20. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $26.63 and a 200 day moving average price of $26.22. The company has a market capitalization of $3.67 billion, a P/E ratio of 13.22, a PEG ratio of 4.77 and a beta of 1.15.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. First Hawaiian had a net margin of 31.56% and a return on equity of 11.48%. The firm had revenue of $194.39 million for the quarter, compared to the consensus estimate of $196.31 million. During the same quarter in the previous year, the company earned $0.50 earnings per share. As a group, research analysts forecast that First Hawaiian will post 2.16 EPS for the current year.

Several large investors have recently modified their holdings of FHB. Point72 Asset Management L.P. bought a new position in shares of First Hawaiian in the second quarter valued at about $54,000. Metropolitan Life Insurance Co NY raised its holdings in shares of First Hawaiian by 21.5% in the first quarter. Metropolitan Life Insurance Co NY now owns 3,192 shares of the bank’s stock valued at $83,000 after buying an additional 564 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new position in shares of First Hawaiian in the second quarter valued at about $85,000. Machina Capital S.A.S. bought a new position in shares of First Hawaiian in the second quarter valued at about $132,000. Finally, Advisor Group Inc. raised its holdings in shares of First Hawaiian by 11.4% in the second quarter. Advisor Group Inc. now owns 5,594 shares of the bank’s stock valued at $144,000 after buying an additional 571 shares during the last quarter. Institutional investors own 95.87% 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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