First Hawaiian (FHB) PT Raised to $29 at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods analyst Kelly Motta raised the price target on First Hawaiian (NASDAQ: FHB) to $29.00 (from $28.00) while maintaining a Market Perform rating.

The analyst commented: "FHB shares have outperformed 400bps since reporting a very solid quarter, supported by expense discipline, better margin, and pristine asset quality. While loan growth was impacted by higher payoffs and lower utilization, the pipeline is strong going into year-end, which should enable loans to end the year flat. With the shares trading at a (deserved, in our view) premium (11.1x vs. KRX at 9.7x), we remain MP, though we believe stronger growth could drive further upside and outperformance."

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