Ieq Capital LLC Invests $2.65 Million in First Hawaiian, Inc. $FHB

Ieq Capital LLC bought a new position in First Hawaiian, Inc. (NASDAQ:FHB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 90,552 shares of the bank’s stock, valued at approximately $2,653,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Callan Family Office LLC acquired a new position in First Hawaiian in the second quarter worth approximately $4,591,000. Allworth Financial LP bought a new position in shares of First Hawaiian in the second quarter valued at $220,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of First Hawaiian during the 2nd quarter valued at $1,034,000. West Family Investments Inc. acquired a new stake in shares of First Hawaiian during the 2nd quarter valued at $395,000. Finally, NewEdge Wealth LLC bought a new stake in shares of First Hawaiian during the 2nd quarter worth $2,438,000. 97.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FHB. JPMorgan Chase & Co. boosted their target price on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Wells Fargo & Company increased their price target on First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Zacks Research cut First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. The Goldman Sachs Group boosted their price objective on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Sunday, August 2nd. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $30.25.

First Hawaiian Stock Down 1.1%

Shares of NASDAQ:FHB opened at $26.04 on Tuesday. The company’s fifty day moving average is $28.43 and its two-hundred day moving average is $26.94. First Hawaiian, Inc. has a 12-month low of $22.65 and a 12-month high of $30.58. The company has a market cap of $3.17 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.66 and a beta of 0.73.

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

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 17th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, August 17th. First Hawaiian’s dividend payout ratio 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.