FHB's Price Performance: A Tale of Two Markets

Market Sentiment: Is the Market Bullish or Bearish on First Hawaiian?

Short-sellers are always on the lookout for the next big opportunity to make a profit. One stock that has caught their attention lately is First Hawaiian (FHB). In this article, we'll take a closer look at the market sentiment surrounding this financial institution and see if the market is bullish or bearish on it.

Short Interest on First Hawaiian

According to the latest data from the Financial Industry Regulatory Authority (FINRA), the short interest on First Hawaiian has increased significantly over the past few months. As of April 15, the short interest stood at 2.93 million shares, which represents about 4.2% of the company's total float.

Market Performance

So, how has First Hawaiian performed in the market recently? The company's stock has been on a tear, gaining over 10% in the past month and over 20% in the past three months. This impressive performance has likely contributed to the increase in short interest, as some investors may be looking to profit from a potential pullback.

Earnings and Guidance

On April 22, First Hawaiian released its first-quarter earnings report, which showed a significant increase in net interest income and a slight decline in non-interest income. The company also provided guidance for the full year, expecting net interest income to continue to grow and non-interest income to remain stable.

Analyst Estimates

Analysts are generally bullish on First Hawaiian, with an average price target of $34.50, which represents a potential upside of over 15% from the current price. The highest estimate is $38, while the lowest is $31.

Conclusion

In conclusion, the market is bullish on First Hawaiian, with the stock's impressive performance and strong earnings driving the sentiment. While some investors may be looking to profit from a potential pullback, the majority of analysts are optimistic about the company's future prospects. As a result, it's likely that the short interest on First Hawaiian will continue to increase as more investors look to profit from a potential decline.