Janney Montgomery Scott LLC boosted its position in First Hawaiian Inc (NASDAQ:FHB) by 148.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,557 shares of the bank’s stock after purchasing an additional 31,985 shares during the quarter. Janney Montgomery Scott LLC’s holdings in First Hawaiian were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC raised its stake in First Hawaiian by 117.2% in the second quarter. FMR LLC now owns 9,109,111 shares of the bank’s stock worth $264,346,000 after buying an additional 4,916,096 shares in the last quarter. Northern Trust Corp raised its stake in First Hawaiian by 19.4% in the second quarter. Northern Trust Corp now owns 357,272 shares of the bank’s stock worth $10,368,000 after buying an additional 58,141 shares in the last quarter. State of Alaska Department of Revenue raised its stake in First Hawaiian by 47.8% in the third quarter. State of Alaska Department of Revenue now owns 11,126 shares of the bank’s stock worth $302,000 after buying an additional 3,596 shares in the last quarter. First Hawaiian Bank bought a new position in First Hawaiian in the third quarter worth about $382,000. Finally, Massachusetts Financial Services Co. MA raised its stake in First Hawaiian by 16.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,018,304 shares of the bank’s stock worth $27,657,000 after buying an additional 146,073 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Paribas Bnp sold 24,859,750 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $26.11, for a total transaction of $649,088,072.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.10% of the company’s stock.
First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Thursday, January 24th. The bank reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.06. The business had revenue of $177.08 million for the quarter, compared to analysts’ expectations of $190.93 million. First Hawaiian had a net margin of 32.05% and a return on equity of 11.62%. During the same quarter in the prior year, the company earned $0.42 earnings per share. As a group, equities analysts predict that First Hawaiian Inc will post 2.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Monday, February 25th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Friday, February 22nd. This is a boost from First Hawaiian’s previous quarterly dividend of $0.24. First Hawaiian’s dividend payout ratio is 45.93%.
FHB has been the topic of a number of recent research reports. Citigroup cut their price objective 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 upgraded shares of First Hawaiian from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Zacks Investment Research cut shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. Finally, Compass Point set a $28.00 price objective on shares of First Hawaiian and gave the stock a “buy” rating in a report on Friday, January 25th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $30.00.
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First Hawaiian 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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