Utah Retirement Systems raised its stake in First Hawaiian Inc (NASDAQ:FHB) by 57.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,900 shares of the bank’s stock after buying an additional 7,300 shares during the period. Utah Retirement Systems’ holdings in First Hawaiian were worth $540,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. San Francisco Sentry Investment Group CA grew its holdings in shares of First Hawaiian by 106.4% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 3,570 shares of the bank’s stock valued at $104,000 after purchasing an additional 1,840 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of First Hawaiian during the 2nd quarter valued at $148,000. SG Americas Securities LLC bought a new position in shares of First Hawaiian during the 2nd quarter valued at $175,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Hawaiian by 64.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,460 shares of the bank’s stock valued at $175,000 after purchasing an additional 2,524 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of First Hawaiian during the 3rd quarter valued at $213,000. 78.57% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on the stock. Citigroup reduced their target price on shares of First Hawaiian from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, October 29th. BidaskClub lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Zacks Investment Research raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co set a $29.00 target price on shares of First Hawaiian and gave the company a “hold” rating in a report on Tuesday, October 2nd. Finally, ValuEngine lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. First Hawaiian currently has an average rating of “Hold” and an average price target of $31.44.
First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Thursday, October 25th. The bank reported $0.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The business had revenue of $188.66 million during the quarter, compared to analysts’ expectations of $193.89 million. First Hawaiian had a net margin of 26.14% and a return on equity of 10.79%. As a group, equities research analysts forecast that First Hawaiian Inc will post 2.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Monday, November 26th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 23rd. This represents a $0.96 annualized dividend and a yield of 3.91%. First Hawaiian’s payout ratio is currently 58.18%.
In other First Hawaiian news, Director Paribas Bnp sold 20,000,000 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $28.70, for a total transaction of $574,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.
First Hawaiian Company Profile
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through Retail Banking and Commercial Banking segments. The company accepts various deposit products, such as checking and savings accounts, and time deposit accounts.
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