Reinhart Partners LLC. Grows Position in First Hawaiian, Inc. $FHB

Reinhart Partners LLC. increased its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,660,876 shares of the bank’s stock after acquiring an additional 18,977 shares during the quarter. Reinhart Partners LLC. owned about 2.19% of First Hawaiian worth $77,964,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FHB. Eurizon Capital SGR S.p.A. purchased a new stake in First Hawaiian in the 4th quarter worth $26,000. Elevation Wealth Partners LLC grew its position in shares of First Hawaiian by 378.5% during the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock valued at $27,000 after purchasing an additional 738 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings 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 purchasing an additional 1,050 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of First Hawaiian by 45.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of First Hawaiian in the fourth quarter worth about $46,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Price Performance

Shares of FHB stock opened at $27.49 on Friday. The company has a market cap of $3.34 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.74 and a beta of 0.73. First Hawaiian, Inc. has a 1 year low of $22.65 and a 1 year high of $30.58. The stock’s 50 day simple moving average is $28.53 and its two-hundred day simple moving average is $26.94.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share 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 firm had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. During the same quarter in the previous year, the company posted $0.58 EPS. Equities research analysts expect that First Hawaiian, Inc. will post 2.34 EPS for the current year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 17th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a yield of 3.8%. First Hawaiian’s payout ratio is 45.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FHB shares. Benchmark reissued a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th. JPMorgan Chase & Co. upped their price objective on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. Wall Street Zen downgraded First Hawaiian from a “hold” rating to a “sell” rating in a research report on Sunday, August 2nd. Wells Fargo & Company raised their target price on shares of First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, TD Cowen reduced their price target 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, July 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.25.

About First Hawaiian

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.