Treasurer of the State of North Carolina raised its holdings in First Hawaiian, Inc. (NASDAQ:FHB – Get Rating) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 55,440 shares of the bank’s stock after purchasing an additional 710 shares during the quarter. Treasurer of the State of North Carolina’s holdings in First Hawaiian were worth $1,444,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC increased its position in First Hawaiian by 355.2% during the 3rd quarter. CWM LLC now owns 1,006 shares of the bank’s stock worth $25,000 after purchasing an additional 785 shares in the last quarter. Ronald Blue Trust Inc. increased its position in shares of First Hawaiian by 53.8% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,280 shares of the bank’s stock worth $32,000 after buying an additional 448 shares during the period. Parallel Advisors LLC boosted its stake in First Hawaiian by 40.5% during the fourth quarter. Parallel Advisors LLC now owns 1,405 shares of the bank’s stock worth $37,000 after acquiring an additional 405 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in First Hawaiian by 847.2% during the third quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the bank’s stock worth $49,000 after acquiring an additional 1,796 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in First Hawaiian during the second quarter worth $50,000. Institutional investors own 97.77% of the company’s stock.
Analyst Upgrades and Downgrades
FHB has been the subject of several analyst reports. Piper Sandler lowered their target price on shares of First Hawaiian from $22.00 to $21.00 in a report on Monday, May 1st. Keefe, Bruyette & Woods decreased their price objective on shares of First Hawaiian from $32.00 to $26.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. StockNews.com assumed coverage on shares of First Hawaiian in a report on Thursday. They set a “sell” rating for the company. Wells Fargo & Company decreased their price objective on shares of First Hawaiian from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, April 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of First Hawaiian from $27.00 to $21.00 in a report on Thursday, April 6th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, First Hawaiian currently has a consensus rating of “Hold” and an average price target of $23.67.
First Hawaiian Price Performance
First Hawaiian (NASDAQ:FHB – Get Rating) last released its quarterly earnings data on Friday, April 28th. The bank reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). First Hawaiian had a net margin of 29.63% and a return on equity of 12.14%. The firm had revenue of $216.27 million during the quarter, compared to the consensus estimate of $190.28 million. During the same quarter last year, the business posted $0.45 earnings per share. First Hawaiian’s revenue was up 23.4% compared to the same quarter last year. As a group, sell-side analysts predict that First Hawaiian, Inc. will post 2.03 earnings per share for the current fiscal year.
First Hawaiian Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Monday, May 22nd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, May 19th. This represents a $1.04 annualized dividend and a yield of 6.24%. First Hawaiian’s payout ratio is presently 48.60%.
Insider Buying and Selling at First Hawaiian
In related news, CEO Robert S. Harrison bought 23,500 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was acquired at an average cost of $21.61 per share, for a total transaction of $507,835.00. Following the completion of the transaction, the chief executive officer now directly owns 350,449 shares in the company, valued at approximately $7,573,202.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by company insiders.
First Hawaiian Profile
First Hawaiian, Inc is a bank holding company engaged in the provision of banking services to consumer and commercial customers, including deposit products, lending services, and wealth management and trust services through its subsidiary, First Hawaiian Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Treasury and Other.
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