Pinebridge Investments L.P. Buys 68,457 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Pinebridge Investments L.P. boosted its stake in First Hawaiian, Inc. (NASDAQ:FHBFree Report) by 101.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,217 shares of the bank’s stock after purchasing an additional 68,457 shares during the quarter. Pinebridge Investments L.P. owned about 0.11% of First Hawaiian worth $3,114,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FHB. The Manufacturers Life Insurance Company lifted its holdings in shares of First Hawaiian by 17.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock valued at $186,842,000 after purchasing an additional 1,561,662 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in First Hawaiian by 17.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock valued at $103,082,000 after acquiring an additional 668,871 shares in the last quarter. Reinhart Partners LLC. boosted its stake in First Hawaiian by 10.2% in the 4th quarter. Reinhart Partners LLC. now owns 2,251,009 shares of the bank’s stock worth $51,458,000 after purchasing an additional 207,652 shares during the period. Yacktman Asset Management LP raised its stake in shares of First Hawaiian by 0.3% in the 4th quarter. Yacktman Asset Management LP now owns 1,936,687 shares of the bank’s stock valued at $44,273,000 after purchasing an additional 5,812 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of First Hawaiian by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,716,907 shares of the bank’s stock valued at $39,248,000 after purchasing an additional 9,430 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays began coverage on First Hawaiian in a report on Friday, March 8th. They set an “equal weight” rating and a $25.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $21.75.

Check Out Our Latest Analysis on FHB

First Hawaiian Price Performance

First Hawaiian stock opened at $19.95 on Friday. The firm has a 50-day moving average of $21.24 and a 200-day moving average of $21.36. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 11.47 and a beta of 0.98. First Hawaiian, Inc. has a one year low of $17.18 and a one year high of $23.22.

First Hawaiian (NASDAQ:FHBGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The bank reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. First Hawaiian had a return on equity of 9.16% and a net margin of 19.20%. The firm had revenue of $205.80 million for the quarter, compared to analyst estimates of $202.41 million. As a group, sell-side analysts expect that First Hawaiian, Inc. will post 1.71 earnings per share for the current year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a dividend of $0.26 per share. The ex-dividend date was Friday, May 17th. This represents a $1.04 dividend on an annualized basis and a yield of 5.21%. First Hawaiian’s dividend payout ratio (DPR) is 59.77%.

First Hawaiian Company Profile

(Free Report)

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.

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Institutional Ownership by Quarter for First Hawaiian (NASDAQ:FHB)

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