26,160 Shares in First Hawaiian, Inc. (NASDAQ:FHB) Purchased by Aviva PLC

Aviva PLC acquired a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB – Get Rating) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 26,160 shares of the bank’s stock, valued at approximately $681,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FHB. Citigroup Inc. grew its position in First Hawaiian by 8.5% in the 1st quarter. Citigroup Inc. now owns 140,077 shares of the bank’s stock valued at $3,907,000 after acquiring an additional 10,978 shares in the last quarter. Natixis Advisors L.P. grew its position in First Hawaiian by 47.5% in the 1st quarter. Natixis Advisors L.P. now owns 19,082 shares of the bank’s stock valued at $532,000 after acquiring an additional 6,147 shares in the last quarter. MetLife Investment Management LLC acquired a new position in First Hawaiian in the 1st quarter valued at about $71,000. Rhumbline Advisers grew its position in First Hawaiian by 0.5% in the 1st quarter. Rhumbline Advisers now owns 313,549 shares of the bank’s stock valued at $8,745,000 after acquiring an additional 1,501 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in First Hawaiian by 1.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 114,424 shares of the bank’s stock valued at $3,272,000 after acquiring an additional 1,452 shares in the last quarter. 97.77% of the stock is owned by institutional investors and hedge funds.

First Hawaiian Stock Performance

Shares of First Hawaiian stock opened at $16.67 on Monday. The business has a 50-day simple moving average of $19.32 and a 200-day simple moving average of $23.75. The company has a market cap of $2.13 billion, a PE ratio of 7.79, a P/E/G ratio of 0.27 and a beta of 1.02. First Hawaiian, Inc. has a one year low of $15.08 and a one year high of $28.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.70 and a current ratio of 0.70.

First Hawaiian (NASDAQ:FHB – Get Rating) last posted its earnings results on Friday, April 28th. The bank reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The business had revenue of $216.27 million for the quarter, compared to analysts’ expectations of $190.28 million. First Hawaiian had a return on equity of 12.14% and a net margin of 29.63%. First Hawaiian’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, equities research analysts forecast that First Hawaiian, Inc. will post 2.03 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Monday, May 22nd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 6.24%. The ex-dividend date of this dividend is Friday, May 19th. First Hawaiian’s payout ratio is 48.60%.

Insider Buying and Selling at First Hawaiian

In other news, CEO Robert S. Harrison acquired 23,500 shares of First Hawaiian stock in a transaction on Thursday, March 16th. The stock was bought at an average price of $21.61 per share, for a total transaction of $507,835.00. Following the completion of the purchase, the chief executive officer now owns 350,449 shares in the company, valued at $7,573,202.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FHB. JPMorgan Chase & Co. dropped their target price on First Hawaiian from $27.00 to $21.00 in a research report on Thursday, April 6th. Wells Fargo & Company dropped their target price on First Hawaiian from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 5th. StockNews.com initiated coverage on First Hawaiian in a research report on Thursday. They set a “sell” rating for the company. The Goldman Sachs Group lowered their price objective on First Hawaiian from $27.00 to $22.00 and set a “sell” rating for the company in a research report on Thursday, March 30th. Finally, Piper Sandler lowered their price objective on First Hawaiian from $22.00 to $21.00 in a research report on Monday, May 1st. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, First Hawaiian presently has a consensus rating of “Hold” and an average target price of $23.67.

About First Hawaiian

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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.