First Hawaiian (NASDAQ:FHB) Shares Gap Up on Strong Earnings

First Hawaiian, Inc. (NASDAQ:FHB)’s share price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $26.79, but opened at $27.81. First Hawaiian shares last traded at $27.58, with a volume of 37,235 shares trading hands.

The bank reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. First Hawaiian had a net margin of 18.83% and a return on equity of 8.83%. During the same period last year, the business earned $0.37 EPS.

Analyst Ratings Changes

FHB has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $21.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price objective on shares of First Hawaiian from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Stephens initiated coverage on shares of First Hawaiian in a research note on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a research note on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of First Hawaiian from $25.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.86.

Institutional Investors Weigh In On First Hawaiian

Several institutional investors and hedge funds have recently made changes to their positions in the company. CKW Financial Group boosted its stake in shares of First Hawaiian by 1.2% in the 4th quarter. CKW Financial Group now owns 32,600 shares of the bank’s stock valued at $846,000 after purchasing an additional 400 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of First Hawaiian by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 3,624 shares of the bank’s stock valued at $94,000 after purchasing an additional 461 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of First Hawaiian by 5.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank’s stock valued at $237,000 after buying an additional 488 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of First Hawaiian by 5.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 11,296 shares of the bank’s stock valued at $262,000 after buying an additional 569 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of First Hawaiian by 51.5% in the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock valued at $43,000 after buying an additional 625 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Up 3.1 %

The stock has a fifty day moving average of $26.42 and a 200-day moving average of $25.00. The firm has a market capitalization of $3.53 billion, a P/E ratio of 15.78 and a beta of 0.99.

First Hawaiian Company Profile

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.