Louisiana State Employees Retirement System Makes New $1.34 Million Investment in First Hawaiian, Inc. $FHB

Louisiana State Employees Retirement System bought a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 54,400 shares of the bank’s stock, valued at approximately $1,340,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FHB. Oak Thistle LLC bought a new stake in First Hawaiian during the 4th quarter worth about $1,243,000. SG Americas Securities LLC raised its stake in shares of First Hawaiian by 409.2% in the fourth quarter. SG Americas Securities LLC now owns 89,506 shares of the bank’s stock worth $2,265,000 after acquiring an additional 71,927 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its position in shares of First Hawaiian by 94.2% during the third quarter. Elo Mutual Pension Insurance Co now owns 51,139 shares of the bank’s stock worth $1,270,000 after purchasing an additional 24,805 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of First Hawaiian by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock worth $365,777,000 after purchasing an additional 358,632 shares in the last quarter. Finally, Ruffer LLP bought a new stake in shares of First Hawaiian during the fourth quarter valued at approximately $3,028,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Price Performance

FHB opened at $29.97 on Friday. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 2.22 and a beta of 0.72. The firm has a 50 day simple moving average of $27.61 and a 200 day simple moving average of $26.48. First Hawaiian, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $30.56.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. The firm had revenue of $220.35 million for the quarter, compared to analysts’ expectations of $223.59 million. During the same period last year, the firm earned $0.47 earnings per share. As a group, analysts expect that First Hawaiian, Inc. will post 2.33 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.5%. First Hawaiian’s dividend payout ratio is 45.61%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stephens set a $28.00 price target on shares of First Hawaiian in a report on Monday, April 27th. Piper Sandler increased their price objective on First Hawaiian from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Wells Fargo & Company lifted their target price on First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, March 30th. JPMorgan Chase & Co. boosted their target price on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, TD Cowen upped their price target on First Hawaiian from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, First Hawaiian has an average rating of “Reduce” and an average target price of $28.31.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.