First Hawaiian, Inc. $FHB Shares Bought by Sei Investments Co.

Sei Investments Co. grew its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 44.7% during the 1st quarter, Holdings Channel reports. The fund owned 464,457 shares of the bank’s stock after acquiring an additional 143,453 shares during the period. Sei Investments Co.’s holdings in First Hawaiian were worth $11,444,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Royal Bank of Canada raised its stake in First Hawaiian by 8.6% in the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock valued at $4,041,000 after purchasing an additional 13,071 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in First Hawaiian by 9.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock valued at $246,000 after purchasing an additional 856 shares in the last quarter. United Services Automobile Association purchased a new position in First Hawaiian in the 1st quarter valued at about $201,000. Empowered Funds LLC boosted its stake in shares of First Hawaiian by 10.4% during the 1st quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock worth $401,000 after purchasing an additional 1,542 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of First Hawaiian by 8.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock worth $10,389,000 after purchasing an additional 31,686 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Trading Down 0.5%

Shares of NASDAQ:FHB opened at $27.79 on Friday. The stock’s 50-day moving average price is $28.46 and its two-hundred day moving average price is $26.89. First Hawaiian, Inc. has a 12-month low of $22.65 and a 12-month high of $30.58. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.76 and a beta of 0.72.

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

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 17th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, August 17th. First Hawaiian’s payout ratio is presently 45.22%.

Analyst Upgrades and Downgrades

FHB has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Benchmark restated a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. TD Cowen decreased their target price on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Finally, Zacks Research upgraded First Hawaiian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.12.

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.