OneDigital Investment Advisors LLC Invests $980,000 in First Hawaiian, Inc. $FHB

OneDigital Investment Advisors LLC bought a new stake in First Hawaiian, Inc. (NASDAQ:FHB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,441 shares of the bank’s stock, valued at approximately $980,000.

A number of other hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada lifted its position in First Hawaiian by 8.6% in the first quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock valued at $4,041,000 after acquiring an additional 13,071 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in First Hawaiian by 9.3% in the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock valued at $246,000 after acquiring an additional 856 shares in the last quarter. United Services Automobile Association purchased a new position in shares of First Hawaiian during the first quarter worth about $201,000. Empowered Funds LLC increased its position in shares of First Hawaiian by 10.4% during the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock worth $401,000 after purchasing an additional 1,542 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of First Hawaiian by 8.1% during the first 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 in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Down 0.5%

FHB opened at $27.52 on Tuesday. The business has a 50 day moving average price of $28.59 and a two-hundred day moving average price of $26.95. The company has a market cap of $3.35 billion, a PE ratio of 11.97, a P/E/G ratio of 1.74 and a beta of 0.73. First Hawaiian, Inc. has a 52 week low of $22.65 and a 52 week high of $30.58.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data 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 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 period last year, the firm earned $0.58 EPS. As a group, sell-side analysts expect that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 17th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.04 annualized dividend and a dividend yield of 3.8%. First Hawaiian’s dividend payout ratio (DPR) is currently 45.22%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FHB. Weiss Ratings reissued a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. Barclays increased their price objective on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on shares of First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. The Goldman Sachs Group upped their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, July 7th. Finally, TD Cowen decreased their price target on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target 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.