Deutsche Bank Starts First Hawaiian (FHB) at Hold

August 29, 2016 7:02 AM EDT
Get Alerts FHB Hot Sheet
Price: $31.93 -0.99%

Rating Summary:
    3 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Deutsche Bank initiated coverage on First Hawaiian (NASDAQ: FHB) with a Hold rating and a price target of $29. Analyst Dave Rochester called the bank a high quality franchise.

"We view FHB as a high quality franchise priced at an appropriate premium, with a more balanced risk/reward following the 16% upside post IPO. That said, we still expect a 12% return over the next year (incl. the 3% dividend yield) and although we still expect the economic recovery to continue, we note we expect FHB could outperform in a downturn given the bank’s higher ROTCE and stronger credit profile, but we note our EPS would be lower without rate hikes in FY17/18 ($1.57/$1.65)," said Rochester.

For an analyst ratings summary and ratings history on First Hawaiian click here. For more ratings news on First Hawaiian click here.

Shares of First Hawaiian closed at $26.57 yesterday.

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