Stephens Initiates Coverage on First Hawaiian (NASDAQ:FHB) with Equal Weight Rating

On a recent Wednesday, research analysts at Stephens began coverage on the shares of First Hawaiian (NASDAQ:FHB). In their report, they assigned an "equal weight" rating to the bank's stock and set a target price of $30.00. This target suggests a potential upside of approximately 8.38% from the current trading price of the stock.

In addition to Stephens, several other financial analysts have also expressed their views on First Hawaiian. For instance, analysts from The Goldman Sachs Group increased their price target for the company from $22.00 to $26.00 while designating the stock with a "sell" rating. Similarly, Wells Fargo & Company raised their target price from $20.00 to $21.00 and assigned an "underweight" rating to First Hawaiian in their report published on October 28th. Furthermore, JPMorgan Chase & Co. adjusted their price target down from $24.00 to $23.00, also giving it an "underweight" rating. As it stands, four analysts have rated First Hawaiian with a sell rating, while four others have offered a hold rating. Data from MarketBeat.com indicates the company currently holds an average rating of "Hold" and an average target price of $25.43.

Market Performance of First Hawaiian

On the day the coverage was initiated, shares of NASDAQ:FHB opened at $27.68. First Hawaiian has a market capitalization of $3.54 billion, a price-to-earnings (PE) ratio of 15.82, and a beta of 0.96, indicating that its stock price is relatively stable. The stock has shown a 50-day moving average of $24.84 and a 200-day moving average of $23.19. Over the past 12 months, the stock has reached a low of $18.77 and a high of $28.80.

Institutional Investment Trends

Several institutional investors and hedge funds have been active in trading First Hawaiian's shares recently. Notably, Whittier Trust Co. increased its stake by 68.7% in the second quarter, now holding 1,245 shares valued at around $26,000 after acquiring an additional 507 shares. Additionally, Blue Trust Inc. lifted its holdings in First Hawaiian by 51.5% during the third quarter, now owning 1,838 shares worth approximately $43,000 after buying 625 extra shares. Versant Capital Management Inc. also boosted its stake by 55.7%, which now amounts to 1,895 shares valued at around $39,000 after purchasing 678 additional shares in the last quarter. Other investors like Abich Financial Wealth Management LLC and GAMMA Investing LLC have similarly increased their positions in the company. With 97.63% of the stock owned by institutional investors, First Hawaiian shows a strong backing from major financial players.

Company Overview

First Hawaiian, Inc. operates as a bank holding company for First Hawaiian Bank. It offers a variety of banking services and products to both consumer and commercial customers located in the United States. The company operates in three main segments: Retail Banking, Commercial Banking, and Treasury and Other. Some of the products provided include different types of deposit accounts, such as checking and savings accounts.

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