36,979 Shares in First Hawaiian, Inc. $FHB Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 36,979 shares of the bank’s stock, valued at approximately $1,083,000.

A number of other large investors have also added to or reduced their stakes in FHB. Elevation Wealth Partners LLC increased its holdings in First Hawaiian by 378.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after purchasing an additional 738 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of First Hawaiian during the fourth quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of First Hawaiian by 2,916.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after buying an additional 1,050 shares during the last quarter. Global Retirement Partners LLC raised its holdings in First Hawaiian by 45.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after acquiring an additional 534 shares in the last quarter. Finally, Danske Bank A S bought a new position in First Hawaiian during the 3rd quarter valued at $47,000. 97.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FHB has been the subject of several recent analyst reports. Benchmark reissued a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. JPMorgan Chase & Co. upped their target price on shares of First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research note on Wednesday, July 1st. Wells Fargo & Company increased their price target on shares of First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Stephens upgraded First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price target for the company in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group boosted their price objective on First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $30.25.

First Hawaiian Price Performance

FHB stock opened at $25.81 on Wednesday. First Hawaiian, Inc. has a 1-year low of $22.65 and a 1-year high of $30.58. The firm has a fifty day moving average price of $27.80 and a two-hundred day moving average price of $26.88. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.64 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The company had revenue of $231.27 million for the quarter, compared to analysts’ expectations of $227.77 million. During the same period in the prior year, the company earned $0.58 earnings per share. As a group, analysts expect that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. First Hawaiian’s dividend payout ratio (DPR) is currently 45.22%.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.