UPDATE: Raymond James Starts First Hawaiian (FHB) at Market Perform

July 7, 2021 4:41 PM EDT
Get Alerts FHB Hot Sheet
Price: $26.19 -0.57%

Rating Summary:
    5 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 8 | New: 46
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(Updated - July 8, 2021 6:54 AM EDT)

Raymond James analyst David Feaster initiates coverage on First Hawaiian (NASDAQ: FHB) with a Market Perform rating.

The analyst commented, "Headquartered in Honolulu, Hawaii, First Hawaiian, Inc. is a one of Hawaii's oldest and largest financial institutions. The Hawaiian economy is earlier in the economic recovery than the rest of the country, as tourism restrictions are just now being lifted, which should help fuel improving economic and travel trends going forward. In turn, we believe FHB is positioned for improving credit trends as well as accelerating loan growth into 2022, especially in light of the potential for improving C&I utilization and recovering dealer floorplan balances. Additionally, the bank maintains an enviable low-cost core deposit base, where management has effectively deployed growing excess liquidity into securities to help support NII."

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 $28.50 yesterday.

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